This week the towerco reported a 16% rise in annual revenues to €4 billion and ended the year with €20bn debt
Cellnex is to sell its unit in Ireland to Phoenix Tower International (PTI) for €971 million.
Cellnex’s CEO, Marco Patuano, commented in a statement that the sale “is one further step within the company’s ‘Next Chapter’, in line with our strategy, to achieve the goal of consolidating, simplifying our corporate structure and focusing our efforts in the existing growth opportunities in the main markets in which we operate.”
Last week Cellnex reported a 16% rise in annual revenues to €4 billion and ended the financial year with €20.1 billion net debt. At its Capital Markets Day yesterday, it reiterated its commitment to attaining investment-grade rating from S&P and becoming a leading neutral infrastructure provider in Europe.
More deals are expected. Cellnex has just completed the sale of its private networks business, most Edzcom, to Boldyn Networks. The financial details have not been made public.
It also sold a minority shareholding of 49% for its businesses in Sweden and Denmark to Stonepeak for €730 million last September.
PTI gains ground
Dagan Kasavana, CEO of PTI added, “We are delighted to announce this strategic transaction with Cellnex after a successful transaction in France* which signifies a significant step forward in Phoenix Tower International’s expansion in Europe.
“This acquisition demonstrates our commitment to Ireland, and we are eager to contribute to the development of robust and advanced telecommunications infrastructure that will benefit both the Irish people and our valued mobile network operator partners. We appreciated the Cellnex team’s constructive approach and hard work to sign this transaction.”
* Cellnex was obliged to sell 2,353 sites in France to PTI and Bouygues Telecom last year was part of the remedies put in place by the French Competition Authority (FCA) after Cellnex acquired Hivory in 2021. This brought Cellnex €631 million. The sale of another 870 sites should go ahead this year raising an additional €360 million.