Telecoms

Cellnex sells Irish telecoms business for €971m

Phoenix Tower International acquires Cellnex’s 1,900 sites in Ireland in a deal subject to regulatory approval

Marco Patuano, Cellnex’s chief executive late last year confirmed the company was considering an exit in Ireland as part of a restructuring

Cellnex, the Spanish-headquartered mobile phone tower operator, has sold its Irish assets in a near €1 billion deal.

Phoenix Tower International is the buyer, snapping up the assets for €971 million. Founded in 2013, Phoenix owns and operates over 29,000 telecom towers throughout Europe, the US, Latin America and the Caribbean.

Cellnex currently manages approximately 1,900 sites in Ireland.

Marco Patuano, Cellnex’s chief executive late last year confirmed the company was considering an exit in Ireland as part of a restructuring.