Enhanced connectivity could give businesses major productivity boost says O2
Businesses could gain £34.1bn in productivity gains at a time of economic uncertainty
Saf Malik
October 9, 2019
Cellnex set to acquire more than 8,000 new sites
UK communications infrastructure group Arqiva has reached an agreement with Spanish company Cellnex to sell its telecoms infrastructure and related assets.
The sale will cost £2 billion and will see around 7,400 mobile sites transferred to Cellnex’s ownership, as well as the right to market a further 900 sites in the UK. Cellnex has a pre-existing portfolio of around 45,000 sites across Europe in the netherlands, the UK, Ireland, Spain, Italy, France and Switzerland.
Most of the sale proceeds will go towards paying down Arqiva’s capital structure debt, and some Arqiva employees will move to Cellnex, headquartered in Barcelona.
Arqiva CEO Simon Beresford-Wylie said: “This agreement provides both stability and a focus for our future as we concentrate on the provision of broadcast infrastructure, end-to-end connectivity solutions for our TV and radio customers, international content owners, data network providers and utilities.”
His Cellnex counterpart Tobias Martinez added: “The Arqiva Telecoms division acquisition is a key milestone for Cellnex. Its strong UK asset-base, revenues and financial profile, combined with its long history at the heart of UK digital infrastructure, make it a perfect addition to our operations. This deal will not only add c.8,300 telecom sites to our portfolio but an experienced team that will further strengthen Cellnex’s demonstrated ability to meet its customers requirement.
“The UK has always been a core component of our inorganic expansion plans. This agreement further demonstrates our commitment and confidence in the UK market as we look ahead to further opportunities.”