In October 2016 Cellnex announced the acquisition of 100% of Shere Group for €393mn ($440.67mn), trebling their number of sites in the Netherlands from 261 to 725 through the addition of 464 Shere sites and acquiring a small but healthy portfolio of 540 sites in the UK. Integrating Shere’s assets will provide estimated annualised revenues of €29mn, two thirds of which are derived from the Netherlands and a third from the UK.
Cellnex have undertaken a series of growth investments in Europe over the past two years, deploying approximately €1.4bn. This means that at present almost 40% of company revenues are generated outside Spain.
