A concentration operation, notified 10 days ago, consists of the acquisition from PT Portugal of a set of assets of the current passive infrastructure of Meo, with PT assets being “the subject of a carve-out [separação e alienação] to a NewCo, and over which CLNX Portugal will acquire sole control”.

This notification comes after, in August, AdC adopted a decision not to choose the purchase of 700 Altice tors by Cellnex Portugal, for 209 million euros, the fifth transaction in Portugal since September 2018, involving a total of a total investment of more than 2,000 million euros, as revealed at the time by the company.

The set of PT assets to integrate a NewCo corresponding to the passive infrastructure for hosting mobile network equipment (macro-sites), currently held by MEO, as well as the corresponding rights and all related contracts and underlying agreements.

The Cellnex Group, according to the notice, is an independent European operator of telecommunications infrastructures that support wireless connection equipment which, in Portugal, owns and operates more than five thousand macrosites through OMTEL and ON Tower.

In April 2020, Cellnex announced the purchase from NOS of the entire share capital of NOS Towering, in an agreement with an initial payment of 375 million, but whose total value could reach 550 million euros in six years.

In 2020, Cellnex’s losses worsened to €133 million, from €9 million a year earlier, due to “high depreciation” and financial costs associated with acquisitions, while revenues reached €1,608 million, an increase of €55 % face 2019.

At the time of the release of the results, in February of this year, Cellnex CEO Tobias Martinez said that 2020 was “an exceptional year in the history of Cellnex at an equally exceptional time in our history”.

“New growth operations in Austria, Denmark, France, Ireland, Italy, Netherlands, Poland, Portugal, Sweden and the United Kingdom have consolidated and expanded” Cellnex’s European presence, he added, quoted in a statement, referring that the group had investments in €16 billion in 2020 and another €9 billion announced earlier this year.

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