Latin American telecom infrastructure service provider Phoenix Tower International (PTI) is taking over American Tower Corporation’s (ATC) Panamanian business.
ATC, according to reports, has about 60 telecom towers in Panama, most of which have been leased by major wireless operators in the region. ATC’s towers are not only found in cities but also in Panama’s countryside, says Phoenix.
“Panama represents a vibrant wireless market with four major multinational operators and is one of the fastest-growing economies in Latin America,” stated Phoenix a press release.
The acquisition significantly bolsters Phoenix’s operations in Panama, making it the top wireless telecom capacity vendor in the country.
There is fierce competition among wireless carriers in Panama after Digicel and America Movil launched operations in 2009. Their arrival has reduced broadband prices and ended the duopoly long enjoyed by Cable & Wireless and Telefónica’s Movistar.
Headquartered in Boca Raton, Florida, Phoenix is barely a year old, but it has already established operations in Costa Rica, Colombia and Brazil. Financially, Phoenix is propelled by the U.S. investment firm Blackstone.
Among its clients it counts almost every telecom carrier operating in Panama, including America Movil and Telefonica.
Though America Tower is exiting Panama, it is expanding rapidly in other Latin American country. Recently, for example, American Tower bought out BR Towers S.A., a Brazilian telecommunications real estate company that owns approximately 2,530 towers.
ATC’s operations expanded widely across Americas when it acquired Global Tower Partners in 2013. Today it has 460 wireless towers in Costa Rica, 50 in Chile, 1,100 in Colombia and 490 in Peru.