Infrastructure company Cellnex reached an agreement to acquire 2,000 telecommunications sites from Portugal operator Nos, in a deal worth €375 million which further boosts its presence in the country.
In a statement, Cellnex said the agreement would see it take a 100 per cent stake in Nos Towering, the operator’s infrastructure business, giving it ownership of its portfolio of towers and rooftop antennas.
Going forward, Cellnex said it would spend up to €175 million in Nos Towering on around 400 new sites and “other agreed initiatives” over the next six years.
The deal is still subject to administrative and regulatory approvals.
With the transaction, Cellnex projected its backlog of future sales contracted will grow by €2 billion to €46 billion and, once the assets are fully integrated and new sites deployed, it expects to generate additional EBITDA of €50 million.
Nos, which operates mobile, fixed-line and satellite services in Portugal, signed an initial 15-year contract, extendable by another 15 years, to continue to use the sites, locating its voice and data signal transmission equipment there.
The deal comes four months after Cellnex struck an €800 million deal to acquire Portuguese tower operator Omtel, assuming control of 3,000 sites in the country.
In total, Cellnex said it would operate more than 60,000 sites across Europe once the deal for Nos Towering closes, with 6,116 sites in Portugal.Subscribe to our daily newsletter Back