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Cellnex will invest $ 4,000 million in the acquisition of 10,700 locations in France, Italy and Switzerland

10/05/2019

Cellnex will invest $ 4,000 million in the acquisition of 10,700 locations in France, Italy and Switzerland It will integrate 5,700 Free sites in France, 2,200 of Iliad in Italy as well as the 2,800 of this operator in Switzerland.

Iliad and Cellnex Telecom they have given today announced the signing of strategic agreements of cooperation in the long term in France and Italy. In the case of France the agreement focuses on joint participation (70% Cellnex / 30% Iliad), into a new company that will manage the 5,700 sites that are currently integrated into Free, the French operator of voice and data. In Italy Cellnex it will acquire Iliad Italy 2,200 sites boasts this operator in the transalpine country.

At the same time Cellnex has closed a agreement with Saltthe third Swiss mobile operatorto control 90% of a new company that will manage the 2,800 telecommunications sites currently integrated in Salt.

Tobias Mart nezCEO of Cellnex, has underlined the European scope and industrial and strategic fit of the agreement reached with Iliad and Salt, "not only will allow us to strengthen and consolidate our position as a leading independent infrastructure operator in France, but that we decisively reinforced in strategic markets as Italy and we definitely consolidated in Switzerland. In addition Cellnex strengthens its status as neutral operator with two mobile operators deployed at our sites. The combined effect of these agreements is to increase by more than 50% - up to a total of 45,000 - the portfolio of sites with which we already have in the six European countries where we are present. This allows us to calibrate the dimension and character transformational of the agreements reached".

A higher density and capillarity of the networks of sites - he adds Tobias Martinez, "implies a differential value that enhances the role of Cellnex as a natural partner of the set of mobile operators in Europe to complement its capabilities in the" deployment of 4 G and speed of the 5 G."

More than 4,000 million investment The total investment Cellnex commit to the acquisition of 10,700 sites reaches the 2,700 million euros. Of these, 1,400 million correspond to the purchase of 70% of the new company that will manage the 5,700 assets currently operated by Iliad in France and 600 million to 100% of the 2,200 sites of Iliad in Italy. 700 million will be allocated to the purchase of 90% of the company that will operate the 2,800 sites of Salt in Switzerland.

Additionally 1,350 million euros will be allocated to the phased deployment of 2,500 new locations in France, 1,000 in Italy and 500 in Switzerland between 2020 and 2027.

Cellnex close contracts with Iliad in France and Italy that provide for co-location of equipment Free in France and Italy Iliad at sites managed by Cellnex, for an initial period of 20 years extendable automatically for periods of 10 years. Similarly the new company controlled by Cellnex who will manage the assets acquired from Salt, closed a contract with the latter in similar terms.

The estimated additional EBITDA (under IFRS16 and once closed acquisitions and executed the new deployments) will reach 510 million euros.

The result of this set of agreements in terms of backlog, or turnover contracted by Cellnex, is the growth of 18,000 million to 36,000 million.
LINK: https://www.panoramaaudiovisual.com/en/2019/05/07/cellnex-adquirira-10...
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