Cellnex sells 1,100 towers in the United Kingdom to comply with the Hutchinson purchase agreement

Cellnex Telecom, the largest telecommunications tower operator in Europe, announced today that it has reached an agreement to transfer a package of approximately 1,100 sites to Wireless Infrastructure Group ("WIG") in the United Kingdom.

Thomas Osborne
Thomas Osborne
24 October 2022 Monday 02:48
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Cellnex sells 1,100 towers in the United Kingdom to comply with the Hutchinson purchase agreement

Cellnex Telecom, the largest telecommunications tower operator in Europe, announced today that it has reached an agreement to transfer a package of approximately 1,100 sites to Wireless Infrastructure Group ("WIG") in the United Kingdom. The transaction is part of the requirements imposed by the Competition and Markets Authority (CMA) as a preliminary step to the acquisition by the Spanish telecommunications group of the towers in the British market of the Chinese operator CK Hutchison.

The closing of the transaction with the British telecommunications infrastructure operator WIG is expected before the end of the year. "The divestment agreement reached with WIG allows us to comply with the requirements established by the British Competition and Markets Authority and face the definitive closing of the operation with CK Hutchison in the United Kingdom, the last of the transactions announced in November 2020 to integrate the global CK Hutchison sites in six European countries”, said Àlex Mestre, Deputy CEO of Cellnex Telecom.

The closing of the transaction with CK Hutchison in the United Kingdom is expected in mid-November after last May the UK Competition and Markets Authority (CMA) accepted the final commitments related to the acquisition by Cellnex of the 6,000 locations of the Asian giant in the British market. Among the commitments, the transfer by the Spanish group of some 1,000 sites that overlap geographically with the CK Hutchison towers that will pass into the hands of Cellnex stands out.

The company, led by Tobias Martínez, announced in November last year an agreement to acquire the towers and sites of CK Hutchison in Europe with a global investment of 10,000 million euros.