Spanish tower company, Cellnex Telecom announced that it has reached an agreement with Sunrise Communications to acquire 100% of Swiss Towers, a subsidiary of the Swiss mobile operator that operates 2,239 telecommunication site Switzerland.
Cellnex Telecom (54%) has formed a consortium with Deutsche Telekom Capital Partners (18%) and Swiss Life Asset Managers(28%) to become the first independent wireless telecommunications services and infrastructure operator to enter Switzerland. The consortium led by Cellnex will acquire Swiss Tower for a total consideration of € 430 million free of cash.
Cellnex said the acquisition consolidates the its position in Eu-rope with more than 23,000 sites across Spain, Italy, France, Netherlands, the UK, and now Switzerland.
Tobias Martinex, CEO, Cellnex Telecom
Like all other major European countries, the industry in Switzerland is facing the challenge of meeting the significant growth in mobile data consumption and transmission by incorporating new technologies based on small cells and distributed antenna systems (DAS)....This market development provides a clear opportunity for Cellnex Telecom.
Vicente Vento, Co-Founder and CEO, DTCP
Of this high quality tower portfolio in Switzerland represents a flagship deal for DTCP Private Equity, and we are confident that with the strong underlying growth in data traffic and next generation connectivity services, the expertise of Cellnex as an industrial operator and the stable macroeconomic environment, this transaction will lead to a good outcome for our investors.
