Abertis acquires 1,741 mobile towers from Telefonica and Yoigo

3 Jan 2014

Spanish conglomerate corporation Abertis Infraestructuras is said to have closed the acquisition of 1,741 mobile towers from Telefonica Espana (Movistar) and Yoigo for a total of EUR171 million (USD234.5 million), Expansion reports. The development represents the first phase of an August 2013 agreement under which Abertis said it would buy at least 4,227 mobile-phone towers from the two mobile operators for EUR385 million, in a transaction it said would contribute around EUR60 million a year to EBITDA. On the back of the completion of the first stage of the deal, Movistar and Yoigo will now jointly use the infrastructure acquired by Abertis, while it will also be made available to other operators on a wholesale basis. In a statement to the Comision Nacional del Mercado de Valores (CNMV), Abertis was cited as saying that acquisition of the first batch of towers would contribute to the ‘consolidation of the group as a key player in the rational use of fixed telecommunications infrastructure and mobiles in Spain,’ while it would also ‘enable the development of new business opportunities for sharing in the necessary deployment of fourth generation mobile phone infrastructure.’