- 16 Dec 2021
Cellnex’s statement on provisional findings of the Competition Markets Authority
Relating to the acquisition of UK’s CK Hutchison assets by Cellnex
Barcelona-London, 16 December 2021.- Cellnex Telecom (“Cellnex” or “the Company”) notes the UK’s Competition and Markets Authority (“CMA”) has published the provisional findings of its investigation into Cellnex’s proposed acquisition of CK Hutchison’s passive telecoms infrastructure assets in the UK.
The Company is currently reviewing the provisional findings and will engage with the CMA in response to its “notice of possible remedies”, including with any practical alternative remedies the Company wishes the CMA to consider.
Cellnex continues to believe that this is a strongly pro-competitive deal which will create firm incentives to unlock, improve and extend mobile coverage, including 5G, across the whole of the UK, and therefore looks forward to continuing its work with the CMA to address and clarify any concerns ahead of the final decision which is scheduled for March 7th, 2022.
About Cellnex Telecom
The efficient deployment of next-generation connectivity is essential to drive technological innovation and accelerate inclusive economic growth. Cellnex Telecom is the independent wireless telecommunications and broadcasting infrastructures operator that enables operators to access Europe’s most extensive network of advanced telecommunications infrastructures on a shared-use basis, helping to reduce access barriers for new operators and to improve services in the most remote areas.
Cellnex manages a portfolio of more than 130,000 sites – including forecast roll-outs up to 2030 – in Spain, Italy, the Netherlands, France, Switzerland, the United Kingdom, Ireland, Portugal, Austria, Denmark, Sweden and Poland. Cellnex’s business is structured in four major areas: telecommunication infrastructures services; audiovisual broadcasting networks; security and emergency service networks and solutions for smart urban infrastructure and services management (Smart cities and the Internet of Things (IoT)).
The company is listed on the continuous market of the Spanish stock exchange and is part of the selective IBEX 35 and EuroStoxx 100 indices. It is also present in the main sustainability indices, such as CDP (Carbon Disclosure Project), Sustainalytics, FTSE4Good, MSCI and Standard Ethics. Cellnex’s reference shareholders include GIC, Edizione, Blackrock, Canada Pension Plan, CriteriaCaixa, Wellington Management Group, Capital Group, Fidelity and Norges Bank.