Iliad Sells Stake in OnTower Poland to Cellnex

French telecommunications company Iliad has completed the sale of its 30 percent stake in OnTower Poland, a Polish telecommunications infrastructure company, to Cellnex, which holds 70 percent stake. This transaction now grants Cellnex full control over its subsidiary in Poland, further strengthening its position in the market. According to the statement, the deal, valued at approximately EUR 510 million, is considered a pivotal step in Iliad’s ongoing strategic evaluation of its portfolio.

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OnTower Poland

The setup of OnTower Poland was the result of a collaboration between Iliad and Cellnex in 2021. The joint venture was formed as part of Cellnex’s acquisition of approximately 7,000 mobile sites from Polish operator Play. With this latest transaction, Cellnex is set to become the sole owner of the group’s subsidiary in Poland with a 100 percent stake.

Iliad’s Stake in OnTower Poland

The sale of Iliad’s stake in OnTower Poland aligns with the company’s overarching objective of optimizing its portfolio and unlocking additional value. Iliad is said to expedite its path towards achieving an investment-grade rating by actively assessing strategic options. The company has committed to securing a BBB- rating from S&P by 2024 at the latest and maintaining a BBB rating from Fitch.