Epic enters strategic tie with Phoenix Towers International

Epic Ltd has entered into an agreement with Phoenix Towers International (PTI) for the sale of the entire share capital of M.T. Mediterranean Towers Limited, its fully owned mobile telecom infrastructure management company in Cyprus.

This passive mobile infrastructure encompasses essentially metallic and concrete elements such as towers and masts. Epic will retain full ownership and management of the Epic base stations, antenna and all telecom-related active equipment that is typically located on such infrastructure; which equipment is critical for the company to offer its core services to its end consumers.

Epic and Phoenix Towers International will enter into a long-term service agreement for the provision of hosting services over the infrastructure, as well as the construction of new sites through a build-to-suit programme, securing long-term access by Epic to such infrastructure.

“This transaction allows us to continue leading in the Cyprus market and to fulfil the promise we made that everyone will be able to enjoy with us an excellent network, worthy of their expectations, combined with real value,” remarked Epic CEO Thanos Chronopoulos.

“This partnership with a leading international firm allows Epic, the No. 1 network in Cyprus, to accelerate its 5G and Fiber To The Home roll-out plan, and substantially upgrade the daily life of our customers.”

Under the same transaction, Phoenix Towers International will also acquire the passive mobile telecom infrastructure of Epic Malta. The total sites portfolio of both Epic Cyprus and Malta will be 815 sites at closing. The transaction is subject to the customary conditions for this type of transaction and is expected to close by the end of 2021.

Epic is one of the largest telecommunication providers in Cyprus, providing integrated mobile and fixed telephony, internet and pay-TV services, as well as specialised ICT solutions for businesses. It operates 18 stores with tech products, accessories and telecommunication solutions.

Phoenix Towers International (“Phoenix”) owns and operates over 10,000 towers, 986 km of fibre and over 80,000 other wireless infrastructure and related sites throughout Europe, the United States, Latin America and the Caribbean.