Epic, the ≠1 Mobile Network in Cyprus, enters into a strategic partnership with Phoenix Towers International

• Sale of 100% of M.T. Mediterranean Towers Limited, Epic Cyprus fully owned infrastructure management company
•   Partnership in line with Epic’s strategy to provide the no 1 network in Cyprus, will lead to increased investment in mobile network modernisation, 5G and Fiber to the Home

Epic Ltd yesterday announced that it 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.

Thanos Chronopoulos, Chief Executive Officer of Epic, said: “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. 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 customary conditions precedent for this type of transaction and is expected to close by the end of 2021.

Epic. Great network. Great Value.