Cellnex last Friday announced that it has closed the transaction with Cyfrowy Polsat Group regarding the acquisition of 99.99% of its telecommunications infrastructure, Polkomtel Infrastruktura.
It operates the group’s passive infrastructure (c.7,000 telecommunication towers and sites) and active infrastructures (c.37,000 radio carriers covering all the bands used by 2G, 3G, 4G and 5G; c. 11,300 km of fibre backbone and fibre-to-the-tower backhaul, and a national network of microwave radiolinks).
The agreement involves an investment of c. €1.6 billion by Cellnex, plus an additional programme to roll out up to c. 1,500 sites, as well as investments in active equipment, mostly for 5G, for a further c. €600 million over the next 9 years. The transaction has been financed with available cash.
Additional EBITDA under IFRS16, and once the rollout of the new sites have been completed, will be €330 million, while Recurring Leveraged Free Cash Flow (RLFCF) will rise by €150 million. Cellnex and Cyfrowy Polsat have agreed a 25-year service contract with subsequent renewals for 15-year periods.
Tobias Martinez, CEO, Cellnex
We celebrate both a long-term strategic partnership with one of the most significant players in the Polish telecommunications market, as well as the relevance and strategic value of an agreement which involves two main derivatives.
Mirosław Błaszczyk, CEO of Cyfrowy Polsat and Polkomtel
Our intention to partner with Cellnex in the further development of our mobile network is intended to allow for even faster and more cost-efficient deployment of modern connectivity services for our customers. In order to work, learn or entertain themselves, our customers need reliable networks which will require more and more 5G-equipped sites.
