Cellnex may bid for part of CK Hutchison European tower business

16 Jul 2020

Spanish mobile tower firm Cellnex Telecom is considering making an offer for a minority stake in the European tower operations of Hong Kong-based CK Hutchison. A report from Bloomberg says CK Hutchison is looking at spinning off the European tower unit into a separate company which could be valued at up to EUR10 billion (USD11.4 billion), with Cellnex potentially lining up a bid. Cellnex owns stakes in tower networks in Italy, the Netherlands, the UK, France, Switzerland, Ireland, Portugal and Spain. CK Hutchison owns 3 Group Europe, which has cellular businesses in the UK, Italy, Ireland, Denmark, Sweden and Austria.

United Kingdom, Cellnex Telecom, CK Hutchison