Cellnex acquires Nos Towering and solidifies its place in the Portuguese market
On 14 April, Cellnex reached a deal to acquire 100% of Nos Towering from Portuguese MNO, Nos for an enterprise valuation of €375mn. The deal marks Cellnex’s second major tower deal in the country and adds a further 2,000 towers to their Portuguese portfolio, with up to a further 400 new sites to be added for Nos over the next six years. TowerXchange examines the deal.
Cellnex’s M&A drive across the European market shows no signs of slowing with the continent’s most acquisitive towerco adding a further notch to its belt with the acquisition of Nos’s tower portfolio in Portugal.