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  • 06 Sep 2023
  • ·
  • M&A

Cellnex to dispose 2,353 sites in France

The Company receives EUR 631 million from the sale of these assets.

The divestment is part of the agreements reached with Phoenix Tower International (PTI) and Bouygues Telecom in early 2022, in application of the remedies established by the French Competition Authority (FCA) following the acquisition of Hivory in 2021.

Barcelona / Paris, 6 September 2023  – Cellnex Telecom (“Cellnex” or “the Company”) today announced the disposal of 2,353 sites in France to Phoenix Tower International (PTI) and to a joint venture of PTI and Bouygues Telecom under the agreements reached with such companies in early 2022 to transfer a total of 3,226 sites, to be concluded over a period of thirty months. These agreements are in accordance with the remedies established by the French Competition Authority (FCA) following Cellnex’s acquisition of Hivory in 2021.

Cellnex has received c. EUR 631 million from the sale of these assets, which includes 150 sites executed in the first half of the year, 225 sites executed on 1 August and 1,978 sites at the end of August. Cellnex will use these proceeds to reduce its debt, in line with the objectives set in November 2022 which prioritise organic growth and achieving investment grade by S&P.

These sites, located in urban areas, are from the portfolio of assets that Cellnex manages for its customers in France. The transfer of the approximately c.870 remaining sites is expected to be concluded by 2024.

Cellnex manages a total of c.30.000 sites in France, including forecast roll-outs up to 2030, for three of the large MNOs operating in the country (Bouygues Telecom, Free and SFR). France continues to be one of the Company’s main markets in terms of business volume and assets under management.

 

About Cellnex Telecom

The efficient deployment of next-generation connectivity is essential to drive technological innovation and accelerate inclusive economic growth. Cellnex 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 around 135,000 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: telecommunications infrastructure 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 indexes, such as CDP, Sustainalytics, FTSE4Good and MSCI. Cellnex’s reference shareholders include Edizione, TCI, GIC, JP Morgan, Blackrock, CPP Investments, CK Hutchison, CriteriaCaixa and Norges Bank.

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