Spanish telecoms Cellnex firm widens reach in the UK under £8.7bn deal
Spanish telecoms firm Cellnex is widening its reach in the UK under a €10bn (£8.7bn) European deal covering six countries.
The Competition and Markets Authority (CMA) has now cleared the deal for CK Hutchison, which owns telcoms towers, in the UK.
Cellnex has also acquired CK Hutchison in Austria, Ireland, Denmark, Sweden and Italy.
The deal spans 30,000 tower sites, including 6,6000 in the UK.
Bosses at Cellnex are now anticipating agreed future sales to hit €110bn (£96bn) after the deal.
The company has also booked a revenue of €2.5bn (£2.1bn) for the past nine months.
“This gives us confidence in our targets for the year. Let me underline as well that while keeping our 2025 guidance, we are reinforcing our focus on our balance sheet, and as an expression of this we are committed to securing Investment Grade status (BBB- rating) from S&P,” CEO Tobias Martinez said in a statement.