DigitalBridge combines Iceland towers to boost 5G - Mobile World Live

DigitalBridge combines Iceland towers to boost 5G

15 DEC 2021

Private equity company DigitalBridge secured deals to acquire tower assets from Icelandic operators Syn and Nova, in a move to create an independent company in the country called IslandsTurnar.

In a statement, DigitalBridge asserted IslandsTurnar would be Iceland’s first independent tower company of scale and would focus on delivering nationwide coverage to support operators’ 5G deployment plans.

Financial terms for both acquisitions were undisclosed.

Syn, which owns Vodafone Iceland, and Nova will serve as long-term dual anchor tenants on all of IslandsTurnar’s towers.

The move into Iceland complements DigitalBridge’s expanding presence in the Nordics’ telecoms market, after it acquired Finland-based tower operator Digita in 2018.

Marc Ganzi, president and CEO of DigitalBridge, stated the creation of IslandsTurnar represented a unique opportunity to boost 5G in Iceland, a “stable, attractive and digitally advanced telecoms market”.

GSMA Intelligence estimated Nova had 156,000 mobile connections at end-Q3 and Syn 126,000. Market leader Siminn had 175,000.



Kavit Majithia

Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >>

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