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Cellnex closes the purchase of 7,000 Play sites in Poland

After receiving the green light from the competition authorities in Poland, Cellnex has formalized the acquisition announced in October, for around 800 million euros, of a 60% controlling stake in the company that will manage these sites from now on.

Cellnex

Cellnex Telecom has closed the agreement with Iliad, announced on October 23, through which the company now has a 60% controlling interest in the company that operates the nearly 7,000 telecommunications sites in Play in Poland.

Cellnex has invested around 800 million euros in the acquisition of the aforementioned 60%, while the remaining 40% will continue to be owned by Play (Iliad), following the model that Cellnex and Iliad agreed upon in the case of the sites that Free (Iliad) operates in France. Cellnex has financed the operation with available cash.

This new Polish telecommunications infrastructure company controlled by Cellnex plans invest up to 1,300 million euros by 2030 in the deployment of up to c. 5,000 new locations.

Cellnex has closed a service provision contract with Play for a period of 20 years, extendable for additional successive periods of 10 years. In terms of backlog (sales under contract) this operation will mean (as announced in October) an increase of 6,000 million euros for the group.

Cellnex's global backlog, including transactions pending closure and deployment announced in Italy and the United Kingdom (CK Hutchison), France (Hivory), the Netherlands (DT) and the most recent also in Poland (Polkomtel Infrastruktura), reaches €110 billion.

By, Apr 5, 2021, Section:Business

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