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Europe News

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Headlines: three Cellnex acquisitions, three prospective tower IPOs…

Austria: América Móvil reduces stake in Telekom Austria

América Móvil will sell a 7.8% stake in Telekom Austria, reducing its stake from 59.70% to 51.89%. The move increases Telekom Austria’s free float to 20%. The State remains a 28.4% stakeholder.

France: Cellnex agrees to acquire 230 towers from Bouygues Telecom

In a relatively small but strategically significant deal, the largest pan-European towerco has agreed to spend €80mn acquiring 230 towers from Bouygues Telecom. Cellnex has disclosed a valuation of 13.8x adjusted EV/EBITDA multiple.

The portfolio represents less than 1% of France’s ground based towers, but heralds Cellnex’s entrance into the French market, inaugurating a long term partnership with Bouygues.


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