Cellnex Acquires 1500 Towers From Orange Spain For EUR 260 Million

Spanish infrastructure operator Cellnex Telecom has reached an agreement with Orange Spain to acquire a portfolio of 1,500 telecommunications sites for a total of EUR 260 million, confirming earlier reports. The towers and antennas are located in urban, suburban and rural areas throughout the country and are designed to reinforce Cellnex’s position in Spain as an independent telecommunications infrastructure operator as well as consolidating its relationship with Orange both in Spain and France, said the company.

Cellnex and Orange Spain have also signed an initial 10-year contract, extendible by a subsequent period of 10 years and several 1-year periods, under the terms of which Orange Spain will continue to use the sites operated by Cellnex, placing its voice and data signal transmission equipment in them.

In its statement, Cellnex described the transaction as the latest growth operation in what it regards as a transformational 2019 for the company. Over the past 11 months, Cellnex has struck several agreements to acquire assets and companies which, once signed and with all the associated programmes for the construction of new sites rolled out, will mean an increase of some 25,000 assets in its current portfolio in the seven European countries in which the company is present.

Since its IPO in 2015, Cellnex has executed or committed investments worth around EUR 11 billion for the acquisition or construction of up to 44,200 telecommunications towers by 2027, in addition to the 10,000 or so the company had at that time.―Telecompaper