Cellnex takes a quantum leap forward

TowerXchange’s analysis of Cellnex’s 10,700 + 4,000 site deal with Iliad / Salt

Read this article to learn:

  • A detailed breakdown by country of the sale and leaseback and build to suit components of the proposed deal
  • How the deal would eventually contribute to doubling Cellnex’s revenues and EBITDA
  • Cellnex’s appetite for future opportunities in European towers – and how that might be funded
  • How the deal would affect the French, Italian and Swiss tower markets
  • Analyst reaction to the announcement

The M&A strategy of an acquisitive towerco is necessarily opportunistic. Towercos cannot wait for the perfect opportunity because MNOs define where, when and, to a certain extent, how much they sell their towers for. But when the opportunity arose for Cellnex to agree a game-changing sale and leaseback with Iliad and Salt, adding 10,700 existing…

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