CK Hutchison has agreed to sell its interests in its European tower assets and businesses for €10 billion in six transactions to Cellnex Telecom, Europe’s leading operator of wireless telecommunications and broadcasting infrastructures.
These transactions will unlock the underlying value of CKHH’s telecommunications division and realise a number of strategic and financial benefits for the Group, including acceleration in rolling out 5G across all of CK Hutchison Group Telecom’s networks as well as forming long-term ties with Cellnex that will serve the Group’s future passive infrastructure needs. Austria, Denmark and Ireland will complete their transactions by December with the remaining countries looking to complete in 2021.
