Liberty Latin America to Invest Tower Sales Proceeds in the Bahamas for 5G

UPDATE Bahamas Telecommunications Company (BTC) vice chairman Valentine Grimes said a portion of the cash raised by parent company Liberty Latin America (NASDAQ: LILA) in its recent tower deal, could be used to deploy 5G in the Bahamas, Developing Telecoms reported. Grimes indicated that the Bahamian government and its current administration intends to take some of the $407 million raised from the tower sale to Phoenix Tower International (PTI) and use it to upgrade BTC’s existing wireless network and commence 5G deployments.

The PTI deal involved the sale and lease back of approximately 1,300 mobile tower sites across Panama, Jamaica, the Bahamas, Puerto Rico, Barbados, and the British Virgin Islands, Inside Towers reported. Of that total, 345 towers were from BTC and are located across the Bahamian archipelago.

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