Cellnex to acquire Altice’s Hivory for EUR5.2bn

4 Feb 2021

Barcelona-based Cellnex Telecom will acquire all of Altice Europe’s telecoms towers for EUR5.2 billion (USD6.3 billion). The telecoms infrastructure, which comprises around 10,500 masts, is owned by Hivory, a joint venture between Altice and US investment fund KKR. Cellnex is planning a capital increase of as much as EUR7 billion to fund the acquisition. Cellnex Chief Executive Officer Tobias Martinez said: ‘We will now be working in France with three of the big mobile operators in this market as anchor tenants, fostering infrastructure sharing.’ The deal comes hot on the heels of two other acquisitions: the EUR10 billion purchase of CK Hutchison Holdings’ European tower portfolio in November 2020, and a deal with Deutsche Telekom (DT) in the Netherlands in January 2021.