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Cellnex completes takeover of CK Hutchison towers

14 Nov 2022

Cellnex Telecom has completed its acquisition of the UK telecoms tower assets of CK Hutchison, the Hong Kong-based owner of British cellco Three UK. The transaction includes interest in and revenues deriving from up to 6,600 sites, once build-to-suit programmes are completed. The UK’s Competition and Markets Authority (CMA) had greenlit the deal in March this year, on the condition that Cellnex divest around 1,000 of its existing sites which would overlap with the sites included in the CK transaction. Cellnex complied with this requirement in October, when it disposed of roughly 1,100 sites to Wireless Infrastructure Group (WIG); the financial details of the transaction were not disclosed. The completion of Cellnex’s acquisition of CK’s towers in the UK marks the conclusion of a multi-country deal signed by CK and Cellnex in November 2020. As previously reported by TeleGeography’s CommsUpdate, the Spain-based infrastructure group had agreed to acquired some 24,600 towers from CK Hutchison in the UK, Italy, Ireland, Austria, Sweden and Denmark for approximately EUR10.00 billion (USD10.35 billion). In addition, the agreements also included the rollout of new sites by 2030, representing further investment of around EUR1.15 billion and bringing the total number of sites to around 30,000 by the end of the decade.

United Kingdom, Cellnex Telecom, CK Hutchison, Hutchison 3G UK (Three UK)

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