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Wireless

Benetton holding agrees to acquire 30% stake in Cellnex

Tuesday 17 April 2018 | 09:20 CET | News

Italian infrastructure giant Atlantia has announced the sale of a 29.9 percent stake in Spanish towers operator Cellnex to the Benetton family holding company Edizione. Atlantia was granted an option to invest in Cellnex under a deal reached last month to acquire Spanish toll-road operator Abertis, which owns 34 percent of the tower company. The transaction, which remains dependent on the approval of the Abertis sale, gives Atlantia the right to sell the Cellnex stake to the Benetton holding for a total of EUR 1.489 billion.

Edizione, whose chief executive is former Telecom Italia CEO Marco Patuano, said in a separate statement that the acquisition represented “a long-term strategic investment with significant growth prospects.” The holding added that it will give Atlantia the right to co-invest in Cellnex by buying up to 6 percent of the masts company within two years of the execution of the deal.

Cellnex had a total of 21,017 sites (7,766 in Italy, 8,030 in Spain and 5,221 in Netherlands, France and the UK), plus 1,348 DAS and small cells nodes at the end of December. It reported full-year revenues of EUR 792 million in 2017, up 12 percent on the year-earlier result, with the company’s EBITDA rising 22 percent to EUR 355 million. 



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Categories: Mobile & Wireless
Companies: Cellnex / Telecom Italia
Countries: Italy / Spain
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