Cellnex Telecom has completed the sale of its Austrian business to a consortium comprising Vauban Infrastructure Partners, through Vauban's Funds, EDF Invest, and MEAG, the asset manager of Munich Re and ERGO, for EUR 803 million. The transaction, first announced on August 9, 2024, marks the divestment of the 4,600 sites Cellnex had managed in Austria since acquiring CK Hutchison's infrastructure in 2021.
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Cellnex's Austrian Operations
Cellnex was operating in Austria since early 2021, when it finalised the acquisition of CK Hutchison's sites in the country as part of the agreement to acquire CK Hutchison's infrastructure portfolio in six European countries, including Austria.
That deal also included assets in five other European countries, including Denmark, Ireland, Italy, Sweden, and the UK. Cellnex operated around 4,600 tower sites in Austria, and the closing of the deal was confirmed by Cellnex on December 19.
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Ongoing Deleveraging and Growth
"The closing of the sale of our Austrian business will allow us to further consolidate, simplify and focus our efforts on growth opportunities in the main markets in which we operate, as well as on the balance sheet and the acceleration of shareholder remuneration, thus fulfilling our commitments to the market," said the CEO of Cellnex.
This transaction enables Cellnex to continue its deleveraging process, as announced at its Capital Markets Day.
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Cellnex's European Portfolio
Cellnex, Europe's largest operator of telecommunications towers and infrastructure, currently manages a portfolio of over 138,000 sites – including planned roll-outs up to 2030 – in 10 European countries, with a significant presence in Spain, France, the United Kingdom, Italy and Poland, according to the official release.
