Cellnex Buys Poland’s Polkomtel For €1.6 Billion

CellnexCellnex negotiates joint bid with Brookfield for Deutsche Telekom towers

Cellnex has closed the purchase of 99.99% of Polkomtel Infrastruktura, the Polish telecommunications infrastructure subsidiary of Cyfrowy Polsat. The investment is for 1.6 billion euros, which will be accompanied by an additional deployment programme of up to 1,500 sites.
The transaction, announced last February and financed with CLNX’s cash in hand, has been completed after receiving the “green light” from Poland’s competition authority. CLNX, which with this transaction makes Poland one of its main markets, will invest a further 600 million euros over the next 10 years in active equipment, mostly for 5G deployment.

Polkomtel operates passive infrastructure (7,000 towers and telecoms sites) and active infrastructure (37,000 radio carriers covering all 2G, 3G, 4G and 5G bands, an 11,300 km fibre backbone and fibre-to-the-tower network, and a nationwide microwave radio relay network).

CLNX expects to generate 330 million euros of additional Ebitda once the new sites are deployed, as well as cash flow of 150 million. The company and Cyfrowy Polsat have agreed a 25-year service contract, with subsequent 15-year renewals.

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