Bolivia's NuevaTel to divest 600 towers to U.S. PTI unit for $100 mln

NuevaTel, the Bolivian subsidiary of U.S. wireless and fixed broadband telecommunications company Trilogy International Partners Inc, has agreed to divest about 600 of its towers to wireless infrastructure company Phoenix Tower International's (PTI) Bolivian unit.

Under the deal, PTI's subsidiary will pay NuevaTel approximately $100 million in cash for 600 towers.

The two companies have entered into a multi-year agreement whereby PTI will provide NuevaTel with access to certain wireless communication towers to support NuevaTel's wireless network and rollout plans.

The initial closings of the deal will take place in mid-February and are expected to include approximately 400 towers worth about $65 million. The move will close in stages after all conditions to closing have been satisfied.