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Competition notified by Spain's Cellnex of NOS Towering purchase

by ace
Competition notified by Spain's Cellnex of NOS Towering purchase

The Spanish telecommunications infrastructure group Cellnex has notified the Competition Authority (AdC) of the purchase, from Portuguese NOS, of the exclusive control over NOS Towering, reveals an AdC notice published on its website.

The notification was received on May 15, consisting of the merger in the acquisition of the entire share capital of NOS Towering – Telecom Tower Management, by the company Cellnex Telecom, through its subsidiary BIH – Belmont Infrastructure Holding.

BIH is a company controlled by Cellnex that, through OMTEL – Estruturas e Comunicações, is dedicated to the implantation, installation and operation of towers and other infrastructures for the placement of telecommunications equipment.

NOS Towering, a company controlled by NOS Comunicações, is dedicated to the installation and operation of towers and rooftops for placing telecommunications equipment.

At the date of completion of the transaction, and after a carveout process, NOS Towering's portfolio of assets will consist of a set of close to 2,000 telecommunications macro-sites ”, reads the notice published by the AdC.

The purchase of the Spanish company Cellnex from the Portuguese company NOS was published in mid-April by the National Securities Market Commission (CNMV) in Madrid, and in Lisbon, noting that the purchase of NOS Towering included its approximately 2,000 telecommunications sites, a portfolio of telecommunications towers located in urban (40%), suburban and rural areas (60%) spread across Portugal.

The transaction, according to that communication to the Spanish CMVM, involved an initial payment of 375 million euros and foresees an “expansion investment” of 175 million euros, related to the extension of the perimeter to 400 new sites, including a BTS program, as well as other initiatives agreed for the next six years.

Under the terms of this disclosed agreement, Cellnex, which financed the operation with its own capital, signed an initial 15-year contract with NOS, renewable for successive additional periods of 15 years, which will allow the Portuguese company to continue using the websites that Cellnex operate.

In a statement published by the Portuguese Securities Market Commission (CMVM), NOS argued that the agreement will allow it to “continue to optimize and expand” its state-of-the-art mobile network, while strengthening its investment capacity in creating value long-term for the company.

By joining forces with Cellnex in Portugal, through this strategic partnership, NOS guarantees its present and future needs in terms of its passive mobile infrastructure ”, underlined the Portuguese telecommunications company in this statement.

The completion of the transaction is now subject to the authorization of the competition regulatory authorities of the two countries.


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