Phoenix Tower International LLC agreed to acquire Ireland Business Of Cellnex from Cellnex Telecom, S.A. (BME:CLNX) for ?970 million on March 5, 2024. The closing of this transaction is subject to regulatory approvals. Cellnex will use the proceeds ofthis deal to reduce its debt.

Nomura is serving as exclusive financial advisor and Arthur Cox is serving as legal counsel to PTI. Barclays and Santander are serving as financial advisors and Matheson is serving as legal counsel to Cellnex.