Cellnex and CK Hutchison confirm EUR10bn European tower deal

13 Nov 2020

Spain-based mobile tower firm Cellnex Telecom has confirmed an agreement to acquire 24,600 towers from CK Hutchison in the UK, Italy, Ireland, Austria, Sweden and Denmark. The EUR10 billion (USD11.8 billion) deal will be augmented by a EUR1.4 billion rollout of 5,250 new sites over the next eight years. Cellnex and CK Hutchison will sign long term service contracts for an initial period of 15 years, extendable for an additional 15 years. The agreement is subject to regulatory approval, with completion expected to be staggered in the six markets over the next 18 months. Once all the deals have been finalised, Cellnex will control over 100,000 tower sites in twelve European countries.

Austria, Denmark, Ireland, Italy, Sweden, United Kingdom, Cellnex Telecom, CK Hutchison