Spanish-owned tower firm Cellnex has agreed to acquire the telecoms division of British communications infrastructure provider Arqiva Group for a total consideration of GBP2.0 billion (USD2.4 billion). The acquisition includes 7,400 cell sites – including masts, towers and rooftop sites – across the UK as well as rights to market a further 900 sites. The Spanish firm notes that the deal involves concessions to use street infrastructure as locations for telecom sites in 14 London boroughs, which Cellnex describes as ‘a key element for further extension and network densification ahead of the 5G rollout’. Cellnex expects the acquisition to generate GBP170 million of annual adjusted EBITDA in 2020. Both firms expect the deal to close in H2 2020, subject to clearance from the relevant regulatory authorities.