French telecoms group Iliad is in negotiations to offload the bulk of its mobile towers in France and Italy to the infrastructure group Cellnex. Discussions are ongoing with Cellnex regarding the sale of a 70% stake in the subsidiary that manages Iliad’s domestic towers, while an agreement has already been reached to sell the entire Italian tower business. The deal is valued at EUR2 billion (USD2.2 billion) and covers Iliad’s 5,700 sites in France and 2,200 in Italy. The transaction is expected to close by the end of 2019.
Thomas Reynaud, Iliad’s CEO, said: ‘This transaction is part of a long term industrial strategy allowing us to accelerate [the] rollout of our 4G and 5G networks and to increase Iliad’s investment leeway … It enables more efficient infrastructure rollouts in the future, while meeting the challenges of further increasing territory coverage.’