Southern Europe: Cellnex and Inwit raising the temperature of the tower market in the Mediterranean
With a spate of deals across Spain and Italy since 2012, TowerXchange investigates the opportunities in this fast-moving region
Southern Europe (for the purposes of this article: Spain and Italy) might conjure up images of good food, good wine and a relaxed way of life, but in terms of telecoms towers, there’s very little that’s laid-back about this market. Acquisitions, take overs, IPOs and over US$1 billion spent in the last three years paint a picture of a region which is at the forefront of Europe’s independent towerco revolution. Dominated currently by Cellnex (formerly Abertis Telecom) but with a healthy number of smaller towercos and with new competition poised to enter the market in the form of TIM’s listing tower business Inwit, Southern Europe may well be the test bed for the independent towerco model before it rolls out across the rest of the continent.