If anyone ends up making money from 5G technology in Europe, there’s a good chance it will be Cellnex Telecom, which operates transmission towers vital for mobile networks, LiamWardProud explains why:
Cellnex Telecom on May 7 agreed to buy 10,700 mobile tower sites in France, Italy and Switzerland from French telecoms group Iliad and Swiss operator Salt Mobile.
The Spanish mobile-mast specialist is paying 2.7 billion euros in total. That includes 1.4 billion euros for 70 percent of Iliad’s French towers, 600 million euros for full control of the French group’s 2,200 Italian assets, and 700 million euros for 90 percent of Salt’s 2,800 Swiss sites. The companies have also agreed to spend 1.35 billion euros building 2,500 new sites in France, 1,000 in Italy and 500 in Switzerland between 2020 and 2027.
Cellnex said the total EBITDA from the acquisitions and new builds will reach 510 million euros by 2027. Cellnex shares were up 8.2 percent to 28.18 euros at 0807 GMT. Iliad shares rose 4.35 percent to 97.88 euros.
France Dernières Nouvelles, France Actualités
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