Cellnex Telecom completed an acquisition of CK Hutchison’s towers in Sweden, the fourth deal closed in a bumper €10 billion buyout of the operator group’s passive infrastructure across six countries in Europe.
The infrastructure company has already finalised its purchase of the operator’s tower sites in Austria, Denmark and Republic of Ireland. This leaves just assets in the UK and Italy outstanding from the big money deal.
Cellnex Telecom’s buy of CK Hutchison’s tower sites across the markets, which supply the operator’s respective 3 operations and Wind Tre in Italy, was announced in November 2020 and was broken down into a separate transaction for each country.
In total it comprises 24,600 sites, with 9,700 of these covered by its already completed deals. In a statement, Cellnex Telecom said it expected the remaining transactions to be settled in the “coming months”.
The agreement includes a pact with CK Hutchison for continued use of the towers and a pledge to invest €1.4 billion on building 5,250 new sites across the six countries.Subscribe to our daily newsletter Back