- 24 Oct 2022
Cellnex to dispose c.1,100 sites in the UK
Agreement with Wireless Infrastructure Group (WIG) as part of the closing of the transaction with CK Hutchison in the UK, in accordance with the Final Undertakings accepted by the UK’s Competition and Markets Authority (CMA).
Barcelona / London, 24 October 2022.- Cellnex Telecom announced today that it has agreed the disposal of a package of approximately 1,100 sites with Wireless Infrastructure Group (“WIG”), in accordance with the Final Undertakings proposed by Cellnex and CK Hutchison and accepted by the Competition and Markets Authority (“CMA”) in May this year (“Final Undertakings”) prior to the closing of Cellnex’s transaction with CK Hutchison in the UK.
Cellnex expects this transaction with the UK telecommunications infrastructure operator (WIG) to complete by the end of this year.
“The divestiture agreement reached with WIG allows us to meet the conditions required by the UK Competition and Markets Authority and to proceed to complete the UK CK Hutchison transaction, the last of the deals announced in November 2020 to integrate the global CK Hutchison’s telecommunications sites in six European countries,” said Àlex Mestre, Deputy CEO of Cellnex Telecom.
Completion of the UK CK Hutchison transaction in the UK is expected to take place in early/mid-November.
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 138,000 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; audio-visual 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 (Carbon Disclosure Project), Sustainalytics, FTSE4Good and MSCI. Cellnex’s reference shareholders include Edizione, GIC, TCI, Blackrock, CPP Investments, CriteriaCaixa and Norges Bank.