11/12/2020, 1:31 PM (Source: TeleTrader)
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Cellnex buys towers in Europe from Hutchinson for €10 billion

Spanish wireless telecommunications infrastructure and services company Cellnex Telecom reached an agreement with Hong Kong conglomerate CK Hutchinson Holdings for the acquisition of its towers businesses and European assets for €10 billion, National Securities Market Commission (CNMV) confirmed on Thursday.

According to the deal, six separate transactions will be carried out with closure in each country to cover an initial perimeter of approximately 24,600 telecommunications sites in Austria, Denmark, Ireland, the United Kingdom and Sweden.

€8,600 million will be paid in cash and the other €1,400 in Cellnex shares, with which Hutchinson will enter the capital of this with approximately 5%.

Breaking the News / TF