Cellnex will formally assume control over 7000 telecom tower sites formerly owned by Poland’s Play (Polkomtel).
After receiving the approval of Polish competition authorities, Cellnex has finalised an agreement first announced in October 2020 which will see it pay €800 million for a 60% controlling in a new infrastructure company that will control the towers.
In September 2020, Iliad Group announced that it had acquired Play. The parent firm will retain control of the remaining 40% in the venture, in line with the model agreed between Cellnex and Iliad for the sites formerly operated by Iliad’s French subsidiary Free.
Through the new Polish infrastructure venture, Cellnex has pledged to invest as much as €1.3 billion to deploy up to 5000 new sites in Poland before 2030. The firm has also signed 20-year service contracts with Play, with an option to extend for further successive periods of 10 years.
This deal marks Cellnex’s second major acquisition in Poland this year following its purchase of Polkomtel Infrastruktura for €1.6 billion. The group now has a presence in 12 European markets.
