The Spanish company Cellnex buys the French company Hivory, with a portfolio of 10,500 telecommunications sites in France.
The agreement contemplates an initial investment of around 5,200 million euros, as Cellnex has made known to the National Securities Market Commission (CNMV). In addition, the company has agreed on an investment program for the deployment of up to 2,500 new sites to be executed until 2029, with an associated investment of up to 900 million euros. In order to finance growth, Cellnex plans to carry out a new capital increase of up to 7,000 million euros.
Tobías MartÃnez, CEO of Cellnex, has emphasized “the relevance of an agreement that highlights the reason for the business model of neutral and independent telecommunications infrastructure operators”, such as Cellnex.
This purchase, still pending the green light from the Competition authority, would allow Cellnex “work in France with three of the major mobile operators in this market, promoting the sharing of infrastructures; freeing up financial resources from said operators; promoting processes of rationalization of existing sites; and accelerating the deployment of new sites that ensure, on the one hand, the efficient and fluid extension of 5G coverage “.
Cellnex Telecom already has a portfolio of 120,000 sites75,000 of them already in the portfolio and the rest in the process of closing or deployment. The activities of this company spun off from Abertis are carried out in Spain, Italy, the Netherlands, France, Switzerland, the United Kingdom, Ireland, Portugal, Austria, Denmark and Sweden.
The Barcelona-based company specialized in telecommunications towers is confident that this new operation will bring it an adjusted annual ebitda of approximately 460 million euros and a leveraged recurring free cash flow of around 250 million euros once it is completed. complete the deployment and third-party client placements.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
