Spanish operator Cellnex Telecom said it has closed the acquisition of the company Polkomtel Infrastruktura for a total of EUR 1.6 billion in cash a few weeks after receiving the green light from Poland's competition watchdog UOKiK. Polkomtel operates Cyfrowy Polsat Group’s passive infrastructure, including around 7,000 telecommunication towers and sites, as well as active infrastructure, with around 37,000 radio carriers covering all the bands used by 2G, 3G, 4G and 5G, plus 11,300 km of fibre backbone and fibre-to-the-tower backhaul, and a national network of microwave radio links.
Cellnex has also committed to an additional programme to roll out up to 1,500 sites, as well as investments in active equipment, mostly for 5G, for a further EUR 600 million over the next 9 years. In a statement, the Spanish group, which is now Europe’s largest mobile towers company, said the Polkomtel takeover would allow it to rapidly consolidate and reinforce its position in Poland following the acquisition of towers and sites from Play earlier this year.
It said additional EBITDA once the rollout of the new Polkomtel sites have been completed will be EUR 330 million, while Recurring Leveraged Free Cash Flow (RLFCF) will rise by EUR 150 million. Cellnex and Cyfrowy Polsat have also agreed a 25-year service contract with subsequent renewals for 15-year periods.
