Cellnex Telecom will acquire c.24,600 telecommunications towers and sites across Europe from CK Hutchison for EUR 10 billion. The transactions include the roll-out of up to 5,250 sites over the next eight years with an investment of c. EUR 1.4 billion including further initiatives.
Cellnex Telecom is already Europe’s leading operator of wireless telecommunications and broadcasting infrastructures with a portfolio of 61,000 sites including forecast roll-outs up to 2027. Cellnex operates in Spain, Italy, Netherlands, France, Switzerland, the United Kingdom, Ireland and Portugal.
The acquisitions are structured as six separate transactions – one for each country. Cellnex to pay cash at closing of the acquisitions of Sweden, Austria, Italy, Ireland and Denmark, and with cash and new Cellnex shares at closing of the UK transaction.
Cellnex Chairman Franco Bernabè highlighted “the transformational nature of the agreements, which strengthens Cellnex’s position as one of the main Europe-wide telecommunications infrastructures operator, with a portfolio of c. 103,000 sites once the transactions and rollouts are complete. We will now be present in three new significant markets – Sweden, Austria and Denmark – and will further build upon our role as a key operator in three of our core markets, namely Italy, the UK and Ireland.”
