Liberty Latin America Offloads 1,300 Telecom Towers to Phoenix Tower International in $407M Regional Deal

Liberty Latin America has completed a landmark infrastructure monetization with Phoenix Tower International, converting its mobile tower portfolio across the Caribbean and Panama into over $400 million in cash proceeds. The transaction covers approximately 1,300 existing sites spanning six markets—Panama, Jamaica, The Bahamas, Puerto Rico, Barbados, and the British Virgin Islands—with an additional commitment to develop 500 new tower sites over the coming five years.

The Numbers Behind the Deal

The headline figure tells the story: $355 million from existing tower assets, with an additional $52 million expected from the five-year expansion commitment, bringing total proceeds to $407 million. For Liberty Latin America, this represents a strategic pivot to unlock trapped capital while maintaining operational control through long-term master lease agreements. The company plans to deploy the proceeds toward debt reduction and capital investments in its core business operations across the region.

Why This Matters for the Region

Phoenix Tower International, already the largest independent tower operator in the Americas with over 24,000 sites across 24 countries, strengthens its Caribbean footprint significantly. For Liberty Latin America, the arrangement achieves a dual purpose: it converts underutilized infrastructure into liquid cash while securing ongoing tower access through lease agreements—a critical requirement for supporting 5G rollout and expanded network coverage across their consumer brands including BTC, Flow, and Liberty.

The deal structure exemplifies modern telecom finance: divest non-core infrastructure assets to specialist operators, redeploy capital into services and customer experience, and maintain service continuity through favorable long-term contracts. Both companies benefit from operational synergies and market expansion without duplicating infrastructure investment.

Balan Nair, Liberty Latin America’s CEO, emphasized the accretive nature of the arrangement, noting that the transaction crystallizes asset value while reducing capital expenditure burdens. Meanwhile, Phoenix Tower International CEO Dagan Kasavana highlighted the expansion into new markets and the opportunity to enhance regional wireless connectivity across their shared operating footprint.