Phoenix Tower International (PTI) has completed its acquisition of around 3,700 telecom towers in France from Bouygues Telecom and SFR’s tower JV Infracos.

The transaction increases PTI’s tower footprint in France to 10,000 sites nationwide. Financial terms were not disclosed.

The JV, called Infracos, was put up for sale last year.

Bouygues Telecom and Patrick Drahi-owned SFR each own 50 percent of the stake, which covers 3,700 sites across medium-density areas in France. The duo founded the JV in 2014.

PTI entered exclusive talks to acquire Infracos back in July.

At present, PTI owns and operates approximately 33,000 towers across Europe, the US, Latin America, and the Caribbean. The Florida-based copmany spent €971m ($1.1bn) to acquire Cellnex’s Irish tower unit last year.

In September 2023, the company acquired almost 2,000 more urban sites in France following the closing of two deals, and separately entered an agreement to enter the German market.

PTI also acquired 1,300 telecom towers from Liberty Latin America (LLA) for $407m, for sites across Panama, Jamaica, the Bahamas, Puerto Rico, Barbados, and the British Virgin Islands.