Cellnex has reached agreement to acquire an initial 230 towers for €80mn from Bouygues Telecom. Most of the sites are in rural and suburban France. The deal heralds Cellnex’s entry into France and inaugurates what they hope will be a 20 year relationship with Bouygues Telecom. France is the second Northern European country to which Cellnex has expanded this Summer, following their acquisition of 261 towers in The Netherlands from Protelindo. Cellnex currently has over 16,100 sites, and closed Q116 with revenue of €165mn (+41%) and EBITDA of €63mn (+26%).
TowerXchange: Congratulations on Cellnex’s announced acquisition of 230 towers from Bouygues Telecom for €80mn! What has attracted Cellnex to extend your footprint to France - what market dynamics make the country fit your investment thesis?
Gaëtan Le Bouedec, Country Manager, France, Cellnex:
There are several factors that make this new move consistently fit with our strategy.
