The UK’s Competition and Markets Authority (CMA) has approved Cellnex Telecom’s acquisition of 6,000 passive telecom infrastructure sites in the UK from CK Hutchison, the Hong Kong-based owner of Three UK. However, the deal is subject to the divestment of around 1,000 of Cellnex’s existing UK cell sites, which are said to overlap geographically with the CK Hutchison sites to be acquired.
The regulatory approval of this deal marks the final component of a series of agreements announced in November 2020 to acquire 24,600 CK Hutchison cell sites in Austria, Ireland, Denmark, Sweden, Italy and the UK. The CMA’s approval remains contingent on the implementation of the agreed remedy. The six transactions represent an investment of EUR10 billion (USD10.9 billion), and the agreements also cover the deployment of up to 5,250 new sites (600 of which in the UK) over the next eight years, with an additional investment of EUR1.15 billion.
Barcelona-based Cellnex manages a portfolio of more than 130,000 sites – including forecasted rollouts up to 2030 – in Spain, Italy, the Netherlands, France, Switzerland, the UK, Ireland, Portugal, Austria, Denmark, Sweden and Poland.