The Portuguese Competition Authority (Autoridade da Concorrencia, AdC) has commenced its analysis of the proposed sale of tower infrastructure by Onitelecom (ONI). The acquiring party is Omtel Estruturas de Comunicacoes (OMTEL), an affiliate of Spanish tower firm Cellnex, and the deal includes 65 towers.
Previously, in January 2020 Cellnex reached an agreement with Altice Europe and Belmont Infra Holding, to acquire 100% of OMTEL for an enterprise value of EUR800 million (USD895 million). OMTEL operates 3,000 sites in Portugal – around 25% of the overall cell towers in Portugal.
Subsequently, in April 2020 fellow Portuguese player Nos sold 100% of Nos Towering to Cellnex. That transaction involved 2,000 ‘telecommunications sites’ (towers and rooftop antennas), which are located in urban, suburban and rural areas of Portugal. The upfront payment was worth EUR375 million, potentially rising to EUR550 million after six years.