Spanish telecom operator Cellnex is considering a potential sale of its Swiss tower subsidiary. The company has appointed JPMorgan as its advisor for the sale, which could be worth up to €1.5 billion ($1.53bn). This move aligns with the company’s strategy of portfolio optimization, following similar deals in recent months.
Cellnex’s Stake in Swiss Towers
Cellnex owns 72% of the Swiss tower subsidiary, while the remaining 28% is held by Swiss Life Asset Managers. The subsidiary manages approximately 6,000 radio sites, including both urban and rural towers, positioning it as a key player in the Swiss telecommunications infrastructure market.
Strategic Portfolio Reshaping
Cellnex’s potential sale of the Swiss towers follows a series of other high-profile divestitures. Recently, the company sold its Austrian tower business to a consortium including Vauban Infrastructure Partners, EDF Invest, and MEAG for €803 million ($821m). In March, it reached an agreement to sell its Irish unit to Phoenix Tower International for €971 million ($993m), a deal currently under scrutiny by Irish regulators.
The Swiss Market and Cellnex’s Entry
Cellnex entered the Swiss market in 2017 with the acquisition of Swiss Towers, a subsidiary of Sunrise, for €430 million ($440m). This purchase was part of a larger consortium that also included Deutsche Telekom Capital Partners (DTCP) and Swiss Life Asset Managers. The Swiss towers unit’s diverse portfolio includes crucial infrastructure spread across both urban and rural regions, contributing significantly to Cellnex’s overall tower assets.
Other Notable Sales by Cellnex
The potential sale of its Swiss tower unit would be part of a broader trend of asset divestitures by Cellnex. In addition to the Austrian and Irish sales, the company has been reported to consider the sale of its Polish business operations, valued at €3 billion ($3.07bn) excluding debt. Furthermore, Cellnex is exploring the possibility of divesting its French data center business, a move that would impact its data center operations in Europe.
Cellnex’s Broader European Presence
With an extensive portfolio of around 130,000 sites, Cellnex is a major player in the European infrastructure market. The company operates across 12 European countries, with plans for significant expansions and rollouts through 2030. This expansive network of telecom towers and data centers supports the growing demand for telecommunications infrastructure, especially in the context of edge computing and mobile networks.
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FAQ Section
1. Why is Cellnex selling its Swiss tower subsidiary?
Cellnex is optimizing its portfolio and focusing on strategic growth areas. The sale is part of a broader strategy to streamline operations and raise capital for future investments in telecom infrastructure.
2. What is the value of the Swiss tower unit Cellnex is looking to sell?
The Swiss tower subsidiary could be valued at up to €1.5 billion ($1.53bn), according to reports.
3. Who holds the remaining stake in Cellnex’s Swiss tower subsidiary?
Swiss Life Asset Managers holds the remaining 28% of Cellnex’s Swiss tower business, with Cellnex owning 72%.
4. What other recent deals has Cellnex been involved in?
In addition to the Swiss sale, Cellnex recently sold its Austrian and Irish tower units, and it is also exploring the sale of its Polish business and French data center unit.
5. How many sites does Cellnex manage across Europe?
Cellnex manages around 130,000 sites across 12 European countries, with ongoing expansion plans up to 2030.
