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Orange Spain in talks to sell 1,500 towers for EUR 250 mln - report

Friday 29 November 2019 | 15:01 CET | News
Orange Spain is negotiating the sale of 1,500 of its mobile towers in the country to raise funds to pay for the high cost of rolling out 5G networks, according to unnamed sources cited by business daily Expansion. The value of the assets is estimated at EUR 250 million, said the report, adding that they cover a mix of sites in different locations, including urban, suburban and rural areas. The operator has already contacted leading companies in the sector including Digital Bridge, Axion, Phoenix, American Tower and Cellnex, with the latter two considered as the most likely buyers according to the sources.

The report goes on to state that Orange Spain may seek to monetise an additional 4,000 or so sites after selling the initial package of 1,500, potentially raising a total of EUR 700 million, an operation that will depend on the European tower company that the Orange group may set up in the coming weeks. 

Recent reports have indicated that Orange is about to spin off its mobile tower assets into a separate company ahead of a possible sale, with the plan set to be presented at the group's investor day on 04 December. 


 



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Categories: Mobile & Wireless
Companies: Orange Spain
Countries: Spain
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