Cellnex buys Cignal in Ireland for EUR 210 million

News Wireless Ireland 10 SEP 2019
Cellnex buys Cignal in Ireland for EUR 210 million

Cellnex Telecom, pan-European operator of wireless telecoms and broadcasting infrastructure, has announced an agreement to acquire Irish telecoms infrastructure operator Cignal for EUR 210 million.

Cignal operates 546 sites across Ireland, which will become the seventh European country where Cellnex operates. Cignal's contracts with customers have an average duration of around 20 years. It also plans to deploy up to 600 new additional sites by 2026, with an further investment of around EUR 60 million as a follow on to this takeover deal.

Once Cignal has completed this new Build to Suit (BTS) programme, Cellnex estimates that additional EBITDA of around EUR 20 million will be generated for the group. The acquisition and future investment will be financed from available cash and future cash flows from Cellnex Ireland. 

Categories:

Mobile

Companies:

Cellnex,  Cignal

Countries:

Ireland

Tags:

Network Access, Devices, Company, Services, Network equipment, Network operations services, Corporate, Wholesale, Client, M&A buyouts & divestments

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