Cellnex Telecom and CK Hutchison have announced a series of agreements pursuant to which Cellnex will acquire circa 24,600 telecommunications towers and sites that CK Hutchison currently owns in Europe for total consideration of €10 billion. The transactions include the roll-out of up to 5,250 sites over the next eight years with an investment of some €1.4 billion including further initiatives.
Cellnex Chairman, Franco Bernabè, commented: “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.”
Cellnex CEO Tobias Martinez added: “It is also worth noting the strategic and transformational dimension of this combined agreements, which reinforce the concept of partnership with our customers and opens up new opportunities and approaches for collaboration, such as holding a minority stake in Cellnex while preserving the group’s management and governance neutrality and independence”.
Martinez continued: “The high density and capillarity of Cellnex’s network of sites, now in 12 European markets and crossing the threshold of 100,000 telecom sites, further highlights the differentiated added value of our company as a natural partner for all mobile operators in Europe to complement their capabilities in rolling out 4G and accelerating the 5G deployment.”