Cellnex enters the Polish market with the acquisition of 7,000 Play sites
The towerco acquires 60% stake for EUR800mn
Cellnex has added a ninth country to its European operations after striking a deal with Iliad to acquire a 60% stake in the new entity that will operate Play’s 7,000 towers in Poland. Iliad announced a takeover of Play in late September, with the deal set to complete by the end of November; the Cellnex deal is expected to close by Q221. Cellnex will invest €800mn to acquire the stake, with the new Polish towerco expected to invest up to €1.3bn over the next 10 years, rolling out up to 5,000 new sites. TowerXchange takes a closer look at the deal.