Cellnex to reach 45,000 towers following Iliad deal, targets more acquisitions

Spanish operator Cellnex Telecom hasn’t ruled out making further acquisitions to expand its reach in the telecommunications infrastructure market after reaching deals with Iliad and Salt, its CEO told reporters at the company’s AGM in Madrid. Cellnex will remain “very pro-active in looking for projects," said Tobias Martinez, according to Reuters. “The company reviews everything, but the fact we ask what time it is does not mean we are going to build a clock factory,” he added.

Earlier this week Cellnex announced a deal with Iliad to acquire 5,700 sites in France and 2,200 in Italy for an initial EUR 2 billion plus a further 2,800 sites in Switzerland for around EUR 700 million. At the AGM the company revealed that once the Iliad deal is fully completed in 2027, its portfolio will contain more than 45,000 sites in six countries (Spain, Italy, France, the Netherlands, the UK and Switzerland), including up to 4,000 new sites.

Martinez also confirmed that the UK’s CTIL – a joint venture between Vodafone and Telefonica’s O2 – remains an appealing target for Cellnex and that it has approached the Spanish subsidiaries of Vodafone and Orange with an offer to optimise their passive infrastructure in the country following their newly-expanded network sharing agreement.