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 today announces 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.

About Epıc
Epic is one of the largest telecommunication providers in Cyprus. Epic provides integrated mobile and fixed telephony, internet and pay-TV services, as well as specialized ICT solutions for businesses. At the same time, it operates 18 stores with tech products, accessories and telecommunication solutions.

In 2019, it proceeded with the implementation of the biggest investment ever made for a super-fast network, with 10 times more capacity compared to the past and a wide broadband coverage.

Since 2020 Epic has being awarded four times ın a row, receiving twice the “Best Mobile Network in Test” award by the global independent testing company umlaut and twice the “Fastest Mobile Network in Cyprus” award by the internationally recognized internet performance testing company Ookla.

Epic belongs to Monaco Telecom, the telecom provider or the Principality of Monaco, and is a member of a dynamic European telecoms’ family, which operates in France, Italy, Switzerland, Malta and Ireland.

About Phoenix Tower International
Phoenix Tower International ("Phoenix") owns, operates over 10,000 towers, 986 km of fiber and over 80,000 other wireless infrastructure and related sites throughout Europe, the United States, Latin America and the Caribbean. Phoenix was founded in 2013 with a mission to be a premier site provider to wireless operators across the Americas in high-growth markets. Phoenix's investors include funds managed by Blackstone Tactical Opportunities and John Hancock, as well as various members of the management team. For more information, please visit www.phoenixintnl.com