Cellnex Sells Austrian Tower Operations to Consortium for EUR 803 Million

Cellnex Telecom has agreed to sell 100 percent of its Austrian tower business to a consortium led by Vauban Infrastructure Partners, EDF Invest, and MEAG, the asset manager of Munich Re and ERGO, for EUR 803 million. The deal is part of Cellnex‘s “Next Chapter” strategy, which aims to streamline its operations and focus on key growth markets, the company said in a recent statement.

• Make Telecom Talk My Trusted Source
• 
• 

Also Read: Phoenix Tower Acquires Cellnex’s Irish Business for EUR 971 Million

Cellnex’s Entry into the Austrian Market

Cellnex entered the Austrian market in 2021, acquiring around 4,600 sites from CK Hutchison as part of an agreement to acquire CK Hutchison’s infrastructure portfolio in six European countries, including Austria. Cellnex currently manages around 4,600 sites in Austria. That deal also included assets in five other European countries: Denmark, Ireland, Italy, Sweden, and the UK.

Strategic Objectives and Future Focus

“The sale of our business in Austria is another step within the company’s ‘Next Chapter’, in line with our strategy to consolidate and simplify our corporate structure, and to focus our efforts on existing growth opportunities in the main markets in which we operate,” said Cellnex.

“It will also allow us to advance two other strategic objectives: focusing on the balance sheet and shareholder remuneration, thus fulfilling our commitments to the market.”

The closing of the deal is subject to the corresponding regulatory approvals. Cellnex has not provided a timeline for when the sale will be completed.

Impact Financial Strategy

This transaction allows the company to continue its deleveraging process as announced at its recent Capital Markets Day. Once the sale is finalised, the company will reassess its capital allocation priorities, Cellnex said.

Also Read: Cellnex Secures 315 Million Euros EIB Loan for 5G Infrastructure in Europe