Cellnex to control 100% of OnTower Poland

Barcelona – Warsaw, 30 June 2023. Iliad has today sold its current stake (30%) in OnTower Poland, the Polish telecommunications infrastructure company controlled by Cellnex (which holds 70%). The company was set up by both operators in 2021 as part of Cellnex’s acquisition of the network of c. 7,000 sites from mobile operator Play in Poland.

Cellnex will now control 100% of this Group’s subsidiary in Poland. The transaction amount is EUR c. 510 million.

This transaction must be seen as an intermediate step in the process of actively assessing strategic options for our current portfolio in order to crystallize value and accelerate the path to the Investment Grade rating (commitment to secure the BBB- rating by S&P by 2024 the latest, and maintain the BBB rating by Fitch).

OnTower Poland currently operates a total of 8,500 sites in Poland and plans to deploy up to c. 3,400 new sites up to 2030, and has a 20-year service provision contract with Play, extendable for additional successive 10-year periods.

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, CPP Investments, Blackrock, CK Hutchison, CriteriaCaixa and Norges Bank.

Cellnex to control 100% of OnTower Poland