Cellnex Telecom has agreed to acquire 10,700 towers in France, Italy and Switzerland to Iliad and Salt for a total consideration of EUR 2,7bn. In France, Cellnex Telecom has agreed to acquire 70% of a new company which will hold 5,700 telecommunication towers for a consideration of EUR 1.4 bn. The agreement foresees as well the roll out of a built to suit program between 2020 and 2027 of up to 2,500 new sites. Regarding Italy, the company has agreed to acquire 100% of 2,200 telecommunication towers, for a consideration of EUR 600m. The agreement foresees as well the roll out of a built to suit program between 2020 and 2027 of up to 1,000 new sites. In Switzerland, Cellnex has agreed to acquire a 90% of a new company which will hold 2,800 telecommunication towers, for a consideration of EUR 0.7bn. The agreement foresees as well the roll out of a built to suit program between 2020 and 2027 of up to 500 new sites. Through the transaction, Cellnex will strengthen its position in France as the leading independent telecommunications infrastructure operator with a key position for the deployment of 5G in the country, as well as in Italy. In Switzerland, Cellnex Telecom will remain as the key neutral player in the market. The transaction is subject to customary conditions precedent and closing is expected in the second half of 2019.
About Iliad and Salt
Iliad S.A. is a French provider of telecommunication services. It is based in Paris and its operations comprise fixed and mobile telephony services, prepaid phone cards and internet access providing and hosting services. The company was founded by Xavier Niel in 1990.
Salt Mobile SA, is a Swiss-based provider of telecommunication services catering to a worldwide client base.
About Cellnex Telecom
Cellnex Telecom S.A., listed in the Spanish Stock Exchange (IBEX 35), is the main independent infrastructure operator for wireless telecommunication in Europe
AZ Capital
Advised in the sale of
Iliad S.A. and Salt (telecom infrastructure assets)
to