Cellnex has reached an agreement with Altice Europe and Belmont Infra Holdings, to acquire Portuguese telecommunications towers and sites operator OMTEL for $892 million. The acquisition will result in the roll out of 400 sites in the next four years.
OMTEL currently operates 3,000 sites in Portugal, which becomes the eighth European country with Cellnex operations in it.
The Portuguese company manages a portfolio of sites that account for around 25 percent of the telecommunications towers on the Portuguese market. OMTEL’s contracts with its clients, of which the main one is Portugal Telecom (MEO), are for 20 years with additional five-year periods.
“With OMTEL, we are not only integrating one of the leading independent telecommunications infrastructure operators in Portugal. We are also committing to consistent growth in Europe, incorporating an eighth market – which naturally extends the current geographical coverage of the seven countries in which we already operate, and in this case especially due to the proximity and operational synergies that may arise with the Group in Spain. We are also incorporating a new client, Meo, which is the market leader and joins a rich and diversified mix of clients in Europe, covering the leading operators in the markets in which we operate,” said Cellnex CEO Tobias Martínez on announcing the agreement.
January 6, 2020