Cellnex: acquisition in UK
(CercleFinance.com) - Cellnex, a Spanish telecom infrastructure group, has announced the acquisition of Arqiva's telecom division for 2 billion pounds, thereby taking over 7,400 sites and the right to commercialise around 900 sites across the UK.
The business and the assets that have been bought are expected to generate up to 170 million pounds of adjusted annual EBITDA in 2020. Expected in the second half of 2020, the deal's completion will require antitrust and other customary conditions to be satisfied.
Cellnex points out that the deal will bring its total portfolio to around 53,000 sites in seven European markets, and that 82% of its revenues will be generated outside Spain, hence confirming the scale and European identity of its project.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The business and the assets that have been bought are expected to generate up to 170 million pounds of adjusted annual EBITDA in 2020. Expected in the second half of 2020, the deal's completion will require antitrust and other customary conditions to be satisfied.
Cellnex points out that the deal will bring its total portfolio to around 53,000 sites in seven European markets, and that 82% of its revenues will be generated outside Spain, hence confirming the scale and European identity of its project.
Copyright (c) 2019 CercleFinance.com. All rights reserved.