Cellnex agreed to acquire approximately 2,000 mobile towers in Portugal from NOS. The deal includes a portfolio of telecommunication towers and rooftop antennas, located in urban (40%), suburban and rural (60%) areas throughout the country.
The transaction represents an initial payment of approximately EUR 375 million (EV), in addition to expansion Capex of up to about EUR 175 million related to perimeter increase (up to 400 new sites, including a Build-to-Suit program) and other agreed initiatives over the next 6 years. The acquisition will be financed with available cash.
Cellnex and NOS also signed an initial 15-year contract, extendible by successive additional 15-year periods, under which NOS will continue to use the sites that Cellnex will operate, locating its voice and data signal transmission equipment there.
Cellnex CEO Tobias Martinez underlined “the capacity of Cellnex teams, both at corporate level and in Portugal, to continue progressing in new agreements with our customers, even at a particularly complex and sensitive scenario as the one we are currently facing.”
“The agreement reached with NOS reinforces the nature and the neutral and independent operator profile that characterises the Cellnex model. Following the very recent agreement to acquire OMTEL, also in Portugal, this transaction exemplifies the sense of being an operator which, precisely due to its neutral and independent nature, can consolidate long-term collaboration projects with the various MNOs and telecom operators who access our infrastructures to roll out their telecommunications networks.”
Cellnex Telecom already operates 61,000 sites in Spain, Italy, Netherlands, France, Switzerland, the United Kingdom, Ireland and Portugal.
