Cellnex Expands its Reach in Poland
Cellnex, a leading tower infrastructure company, has further cemented its presence in Poland by acquiring the remaining 30% stake in OnTower Poland from the French telecom group Iliad for €510 million. This purchase grants Cellnex full control over OnTower Poland, adding to its already substantial 70% share.
Strengthening Position with Strategic Acquisition
OnTower Poland, with its impressive portfolio of around 8,500 mobile sites across the country, is set to expand under Cellnex’s complete ownership. Cellnex plans to increase this number by an additional 3,400 sites by 2030, highlighting its commitment to growth in the Polish telecommunications infrastructure market.
Aiming for Investment Grade Status
Cellnex has indicated that this acquisition is a key step in their strategy to reassess their portfolio and solidify their financial standing. The company aims to achieve an Investment Grade rating by 2024, viewing this transaction as pivotal in accelerating that journey.
The Genesis of OnTower Poland
OnTower Poland was established in 2021 following Cellnex’s acquisition of 7,000 sites from the Polish mobile operator Play for €800 million. This deal initially gave Cellnex a 60% stake in the new entity, with Iliad holding the remaining 40%. Cellnex’s gradual increase in ownership, including a 10% purchase from Iliad in early 2022, demonstrated its intent to eventually merge OnTower with Cellnex Poland and gain full ownership.
A Major Focus on the Polish Market
Cellnex’s focus on Poland has been evident, especially with its acquisition of a 99% stake in Polkomtel Infrastruktura from Cyfrowy Polsat in 2021. This move added another 7,000 towers and sites to Cellnex’s Polish portfolio.
Cellnex’s Growing European Footprint
With the integration of OnTower Poland, Cellnex now boasts a formidable footprint of around 15,500 sites in Poland. This forms a significant part of the approximately 135,000 sites Cellnex manages across Europe, underscoring the company’s position as a major player in the European telecommunications infrastructure sector.