Stonepeak to pay €730m for 49% stake in Cellnex Telecom
Transactions - SEPTEMBER 29, 2023

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

Stonepeak to pay €730m for 49% stake in Cellnex Telecom

by Kali Persall

Stonepeak and Cellnex Telecom, Europe’s largest independent operator of wireless telecommunications infrastructure, have signed an agreement through which Stonepeak will acquire a 49 percent interest in Cellnex Nordics for €730 million ($769 million).

Cellnex Nordics, which includes Cellnex Sweden and Cellnex Denmark, provides mobile network operators with colocation services for their wireless-networking equipment through 4,557 sites across Sweden and Denmark today. The Cellnex Nordics business holds commitments and options to build and operate approximately 2,500 additional sites in the region.

After the deal, Cellnex will continue to manage the day-to-day business of Cellnex Nordics and consolidate the results of its operations. Cellnex plans to use the proceeds of the sale to reduce its debt, in line with objectives set in November 2022 that prioritize organic growth and achieving an investment-grade credit rating by S&P.

“The sale of a stake in ou

Forgot your username or password?