The Spanish operator of telecommunications towers Cellnex Telecom is studying the purchase of a stake in the company that operates the infrastructures of Deutsche Telecom in Germany and Austria. "The aforementioned process is in the study phase and, therefore, the terms and conditions of a potential operation (including the valuation) are pending determination," the company explained in a communication to the CNMV.
The acquisition could be carried out through an investment vehicle in which another investment partner participates, detailed Cellnex, who took the opportunity to recall that it analyzes "on a regular basis the different investment opportunities that are presented to it" in order to continue creating value for its shareholders.
“In the event that an agreement is formalized, timely and complete information would be given, where appropriate and at the time”, remarked the company directed by Tobías Martínez.
The German Deutsche Telekom began the sale process a couple of months ago to put a package of 40,600 towers on the market at a price that could reach 18,000 million. It is an open tender to which it is assumed that the giant American Tower, the world leader in the sector, and Vantage Towers, among others, will also attend, according to Efe.
In the presentation of results for 2021, the CEO Tobías Martínez already showed his interest in entering a market like the German one. Cellnex, which last year closed a capital increase worth 7,000 million, has access to immediate liquidity amounting to 8,600 million euros.
Recently, it has obtained authorization from the CMA, the British authority for markets and competition, to acquire the 6,000 sites of CK Hutchison in the United Kingdom, although it will have to divest some 1,000 of its towers in that country that overlap geographically with those of Hutchison.
