France’s Iliad and Cellnex have entered into an agreement to form a strategic partnership with respect to the Group's passive mobile telecom infrastructure in France and Italy. Iliad will raise EUR 2 billion by selling its mobile towers in the two countries to Cellnex.
In France, Iliad has entered into exclusive negotiations for the sale of 70% of Iliad TowerCo, the company that manages its mobile telecom infrastructure equivalent to 5,700 sites. Iliad retains a 30% minority stake in Iliad TowerCo in the transaction. In addition to this industrial partnership, through which Cellnex and Iliad will together manage and develop Iliad TowerCo in France, Iliad TowerCo and Iliad will enter into a long-term access and services agreement, providing for a build-to-suit program encompassing 4,500 sites (of which 2,500 committed by Iliad).
In Italy, Iliad has entered into an agreement with Cellnex for the sale of the entire capital of its Italian mobile telecom infrastructure management company, Iliad Italia TowerCo. Iliad Italia TowerCo is expected to comprise some 2,200 sites by end-2019. The contemplated transaction also provides for the delivery of 1,900 new build-to-suit sites (of which 1,000 committed by Iliad).
