Freshfields Bruckhaus Deringer LLP (‘Freshfields’) advised Phoenix Tower International (‘Phoenix’), a Blackstone portfolio company, on its definitive agreement with Cellnex Telecom to purchase over 3,200 telecommunications sites in very dense areas in France, among which 1,226 sites with SFR as main client and 2,000 sites acquired by Phoenix and its joint venture partner Bouygues Telecom.

With these latest transactions, along with its previously announced build program with Bouygues Telecom, Phoenix will own and operate over 5,000 sites in France in the coming years, making it one of the largest independent wireless infrastructure providers in the country.

Closing is subject to customary regulatory approvals.

The Freshfields team was led by Sami Jebbour, counsel, with a team composed of Paul Bévierre, Joaquim Traoré and Nora Chekhab, associates, for corporate aspects, Fabrice Grillo, partner, Marie Roche, counsel and Thomas Jeannin, senior associate, for financing aspects, Vincent Daniel-Mayeur, partner, Benjamin Boisanté, senior associate and Juliette Brasart, associate, for tax aspects and Jérôme Philippe, partner, and Sofia Bekkali, senior associate, for competition aspects.