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Hutchison and Cellnex confirm 'advanced talks' over EUR 10 bln tower asset sales

2020-11-04 10:57:00| Telecompaper Headlines

(Telecompaper) CK Hutchison, the parent company of mobile operator 3 Group, has confirmed recent reports that it is in advanced negotiations regarding the sale of its European mobile tower business to Spanish operator Cellnex Telecom, already Europe's largest mobile towers company. In a statement, CK Hutchison said it has reached "substantial agreement" on the key commercial terms for the disposal of the telecommunications infrastructure assets in Europe held indirectly by its CK Hutchison Group Telecom Holdings subsidiary to Cellnex. It added that total proceeds on completion of the transactions would amount to around EUR 10 billion, including minority partners' shares. 

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