The French tower market is hotting up, with TDF, American Tower and now Cellnex all acquiring significant tower portfolios in the country. As the news of Cellnex’s latest deal with Bouygues breaks, TowerXchange unpicks what this means for French towers, and assesses what the impact will be on growth for three French towercos.
Deal breakdown
In 2016, Cellnex acquired 500 towers from Bougyues, in two tranches (230 and 270 towers each time). This third deal is split into two phases: the first is for 1,800 existing and operational sites for €500mn. Cellnex states that this portfolio is for ‘urban’ sites, which TowerXchange believes consists primarily of rooftop sites.