Cellnex targets CK Hutchison closure next month - Mobile World Live

Cellnex targets CK Hutchison closure next month

24 OCT 2022

Cellnex agreed to sell 1,100 sites in the UK to the Wireless Infrastructure Group (WIG), a move which could pave a path forward for a proposed takeover of CK Hutchison’s tower assets to be cleared in November.

The infrastructure company stated it had agreed the disposal of a package of more than 1,000 sites with WIG in accordance with concessions it offered to the Competition and Markets Authority (CMA) in May, prior to the closing of the CK Hutchison deal.

Cellnex added the deal with WIG, a UK telecoms infrastructure company, should complete by the end of this year.

No financial details were revealed.

Resistance
Cellnex announced its €10 billion deal to acquire 24,600 telecoms towers and sites from CK Hutchison in November 2020, in a move to increase its foothold in Italy, the UK and Republic of Ireland, as well as expand into three additional markets.

It faced opposition from the CMA, which said the tie-up could result in higher mobile costs and ultimately reduce competition in the market. It then offered a remedy package to ease the regulator’s concerns.

Alex Mestre, deputy CEO of Cellnex, said the agreement with WIG allowed it to complete the CK Hutchison transaction, which it has set a target to take place in early to mid-November.

Mestre further added the company maintained its plans to integrate CK Hutchison’s assets into six European countries.

Back

Author

Kavit Majithia

Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >>

Read more

Related

Tags