Infrastructure company Cellnex closed an acquisition of CK Hutchison’s towers in the UK two years after striking a deal for the assets, the final of a series of similar agreements to be completed.
The UK deal was held-up by a probe by the country’s Competition and Markets Authority over concerns about the transfer of ownership of sites, which are used by CK Hutchison’s local mobile operation 3.
To gain approval from the regulator, Cellnex subsequently agreed to divest 1,100 of its existing sites in the country to UK-based rival Wireless Infrastructure Group (WIG).
Following the acquisition of CK Hutchison sites and divestment of those to WIG, Cellnex will operate or have interests in around 14,500 towers in the UK.
The UK deal was one of six separate agreements between the operator and Cellnex for tower assets, with the other sites located in Austria, the Republic of Ireland, Denmark, Sweden and Italy.
All told, the deals were valued at €10 billion, with the infrastructure company set to invest an additional €1.2 billion on projects in these markets by 2030.
Cellnex CEO Tobias Martinez stated the “series of agreements with CK Hutchison not only strengthens our position as the leading pan-European operator, but also bolsters our relationships with our customers and opens us up to new opportunities and perspectives for collaboration”.Subscribe to our daily newsletter Back