Cellnex purchase assets in the Netherlands and the Uk to € 393 million – Investing.com Spain

MADRID (Reuters) – The group of telecommunications Spanish Cellnex (MC:) on Thursday announced an agreement to buy a thousand sites of towers and telecommunications in the Netherlands and the United Kingdom with an investment of € 393 million.

The operation will be carried out through the purchase of the infrastructures fund Arcus for 100 percent of the Dutch group Shere.

Cellnex, that at the beginning of August obtained funding of 750 million euros with a bond to seven years, used cash available to finance the purchase, agreed by 393 million euros of debt included.

The Spanish hoped that during the month of October will be able to close the transaction, which will incorporate 464 new sites in the Netherlands and released in the Uk with 540 websites.

According to their accounts, the integration of the assets will add about 29 million euros per year of income.

(Information for Carlos Ruano)

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