MADRID: Cellnex Telecom SA said that it has agreed to buy Portuguese telecommunication tower operator OMTEL for around 800 million euros ($894.24 million) from Altice Europe NV and funds controlled by Morgan Stanley Infrastructure Partners.
The deal will be financed through existing cash reserves and should lift its adjusted earnings before interest, taxes, depreciation and amortization by around 90 million euros, the Spanish telecom tower operator said. The group’s sales backlog should rise by around 2.5 billion euros to 38.5 billion, Cellnex said.
Cellnex will initially pay 300 million euros for the company, with the remainder to be paid in 2027. The acquisition marks Cellnex’s first expansion into Portugal, its eighth European market, where it will take on Omtel’s network of 3,000 cell towers. — Reuters
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