European mobile tower company Cellnex Telecom has reached an agreement with Polish telco Play to acquire a 60% stake in its infrastructure unit. Cellnex will pay EUR800 million (USD948 million) for the majority interest in the newly established company which controls Play’s network of around 7,000 tower sites. The deal has been agreed between Spain-based Cellnex and Play’s new owner, the Iliad group of France. The Polish transaction will expand the Cellnex tower portfolio to 73,000 sites in nine countries.
There could also be another acquisition on the horizon for Cellnex, with speculation that it is lining up a deal to buy the European tower business of Hong Kong-based group CK Hutchison, which controls 28,500 sites across the UK, Italy, Ireland, Denmark, Sweden and Austria via its 3 Europe division. Bloomberg reports that the transaction could be worth around EUR9 billion and that negotiations are at an advanced stage.