Cellnex, Bouygues reach EUR 854 mln French towers deal

Nieuws Mobiel Frankrijk 1 FEB 2017
Cellnex, Bouygues reach EUR 854 mln French towers deal

Spanish infrastructure operator Cellnex Telecom has reached a new agreement with Bouygues Telecom to add 3,000 sites to its existing French portfolio of 500. The EUR 854 million two-stage deal will see Cellnex acquire up to 1,800 urban sites in France for a total value of EUR 500 million to be incorporated gradually over the next 24 months, while also building up to 1,200 new towers for a total value of EUR 354 million. The new towers will be incorporated and operated by Cellnex France as they come on stream by 2022. Cellnex added that it expects the projects to generate annual EBITDA of around EUR 61 million once completed, excluding synergies.

The new deal comes after Cellnex entered the French market last year by acquiring a network of 500 towers from Bouygues Telecom for a total of EUR 147 million to be integrated sometime in mid-2017. As Bouygues Telecom will be the anchor tenant of these sites, both companies have signed a Master Service Agreement for an initial period of 15 years that can be extended up to 15 additional years, with the MNO acting as a customer and Cellnex as a service provider.

Cellnex CEO described the deal as “a decisive step” for the company, serving to extend its footprint in Europe and consolidate its role as the continent’s leading independent operator of wireless telecommunications infrastructure, with a total portfolio of over 18,000 sites.

Categories:

Mobiel

Companies:

Bouygues Telecom,  Cellnex

Countries:

Frankrijk,  Spanje

Tags:

Network equipment, Wireless, Wholesale, M&A buyouts & divestments

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