Oct 3, 2016
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Cellnex expands into UK with €393m Shere Group acquisition

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Cellnex Telecom has struck an agreement to buy Shere Group
Limited for €393 million, giving it access to more than
1,000 mobile sites across the Netherlands and the UK.

The deal, which is expected to close later this month, sees
Cellnex take control of 464 sites in the Netherlands, bringing
its total there to 725.

The acquisition will also see Cellnex expand into the UK for
the first time, giving it 540 sites, with the country becoming
the fifth in Europe the Spanish firm operates in.

Cellnex Telecom President Francisco Reynés said: "The
agreement is consistent with our initial implementation
strategy of executing small transactions followed up with
consolidation in the markets in which Cellnex is primarily
focused in Europe. The efforts made by the Cellnex team over
the last 18 months have led to this new transaction in the
Netherlands and the UK, consistent with our model as an
independent telecommunications infrastructure operator."

The assets will be acquired from Arcus Infrastructure
Partners, and will add an estimated €29 million in annual
revenues to Cellnex’s €338 million, two
thirds of which are generated in the Netherlands and the rest
in the UK.

Cellnex has invested around €1.4 billion in Europe over
the past two years, expanding from its home Spanish market into
Italy, France, Netherlands and now the UK.

CEO Tobías Martínez said: "With the UK we are
not only bringing on board a new European country, further
bolstering the geographical continuity of the markets in which
we operate, but we are entering a particularly significant and
dynamic market for the infrastructure operator sector since the
management of these sites involves a high degree of
outsourcing."

Read on: GlobalTelecomsBusiness

Article Categories:
TMT Industry

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