American Tower mulls Cellnex bid
January 24, 2023
By Colin Mann
US wireless communications infrastructure provider American Tower (ATC) is reported to be considering growing its presence in Europe, with Spanish business daily Okdiario suggesting that company is considering a takeover bid for Spanish broadcast and telecoms infrastructure provider Cellnex Telecom, in partnership with venture capital fund Brookfield.
ATC acquired the tower division of Telefónica’s Telxius subsidiary in a €7.7 billion all-cash deal in October 2022.
Tobías Martínez, Cellnex CEO, announced earlier in January 2023 that he was stepping down from the role, suggesting that the company needed someone new who “maximises organic growth, consolidates the industrial project in all markets and achieves the goal of investment grade amid the current economic and financial context”.