Cellnex Telecom SA said on Thursday that it has agreed to buy Portuguese telecom...
The deal will be financed through existing cash reserves and should lift its adjusted earnings before interest, taxes, depreciation and amortization by around 90 million euros, the Spanish telecom tower operator said.Cellnex will initially pay 300 million euros for the company, with the remainder to be paid in 2027.
The acquisition marks Cellnex’s first expansion into Portugal, its eighth European market, where it will take on Omtel’s network of 3,000 cell towers.Since its public listing in 2015, Barcelona-based Cellnex has been rapidly expanding its asset base, investing around 12 billion euros in acquiring or building up a portfolio of more than 48,000 sites.
Amsterdam-listed Altice Europe holds a 25% stake in OMTEL, while the remaining 75% is held by funds controlled by Morgan Stanley Infrastructure Partners.
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