Cellnex closes the acquisition of CK Hutchison’s assets in Italy

Following the recent clearance from the Italian competition authority

These are added to the concluded operations already announced in Austria, Denmark Ireland and Sweden.

Cellnex now has 18,600 towers and sites out of the total of 24,600 that made up CK Hutchison’s portfolio in Europe, with only the conclusion of the agreement in the UK, scheduled for the first half of 2022, still outstanding.

In November 2020 the Company announced the agreement to acquire CK Hutchison’s sites in Europe with an overall investment of €10 billion.

With the conclusion of this agreement, Cellnex now operates c. 20,000 towers in Italy, along with c. 3,000 to be deployed by 2030, and 2,194 DAS nodes.

Barcelona, 1 July 2021. Cellnex Telecom announced today that it had closed the acquisition of CK Hutchison’s telecommunications tower assets in Italy (c. 9,100 sites), following the green light from the Italian competition authority (Autorità Garante della Concorrenza), as announced on 17 June.

Following the deals concluded in Austria, Denmark, Ireland and Sweden announced at the beginning of the year, Italy is the fifth country out of the six covered by the agreement with CK Hutchison announced on 12 November. With this move, the Company has consolidated 18,600 towers and sites out of the total of 24,600 included in the agreement, with only the conclusion of the agreement in the United Kingdom, scheduled for the first half of 2022, still outstanding.

The total value of the operation is €10 billion and the agreements also cover the roll-out of up to 5,300 new sites (900 of which in Italy) over the next eight years, with an additional investment of €1.1 billion.

With the conclusion of this agreement, Cellnex now operates c. 20,000 towers in Italy, along with c. 3,000 to be deployed by 2030, and 2,194 DAS (Distributed Antenna System) nodes[1], becoming one of the main markets by volume of assets under management.

[1] Reported Q12021

About Cellnex Telecom

Cellnex Telecom is Europe’s leading operator of wireless telecommunications and broadcasting infrastructures with a portfolio of around 129,000 sites, about 84,000 of which are already operative, and the rest in the process of finalisation or planned roll-outs up to 2030. Cellnex operates in Spain, Italy, Netherlands, France, Switzerland, the UK, Ireland, Portugal, Austria, Denmark, Sweden and Poland.

Cellnex’s business is structured in four major areas: telecommunications infrastructure services; audiovisual broadcasting networks, security and emergency service networks and solutions for smart urban infrastructure and services management (Smart cities and the “Internet of Things” (IoT)).

The company is listed on the continuous market of the Spanish stock exchange and is part of the selective IBEX 35 and EuroStoxx 600 indices. It is also part of the FTSE4GOOD and CDP (Carbon Disclosure Project) and “Standard Ethics” sustainability indexes.

Cellnex’s reference shareholders include GIC, Edizione, Canada Pension Plan, CriteriaCaixa, Wellington Management Group, Capital Group, Blackrock, Fidelity and Norges Bank.

For more information: https://www.cellnextelecom.com