Portuguese full-service operator Nos has confirmed that the sale of 100% of Now Towering to Cellnex Telecom – as agreed in April this year – has successfully concluded. The transaction initially involves 2,000 ‘telecommunications sites’ (towers and rooftop antennas), which are located in urban, suburban and rural areas of Portugal. Going forward, Cellnex says it ‘will provide Nos with active network hosting over the passive infrastructure’. The upfront payment was worth EUR375 million (USD440.3 million), potentially rising to EUR550 million after six years.
TeleGeography notes that the deal represents Cellnex’s second notable Portuguese transaction this year, following its EUR800 million agreement to acquire OMTEL from Altice Europe and Belmont Infra Holding in January 2020. OMTEL is said to operate 3,000 sites in Portugal – around 25% of the overall cell towers in Portugal. Via the deals, Portugal became Cellnex’s eighth European market.