Cellnex completes buyout of CK Hutchison's tower assets in 3 markets

Cellnex Telecom SA completed its acquisition of CK Hutchison Holdings Ltd.'s towers and sites in Austria, Denmark and Ireland after securing the approval of relevant competition authorities.

The transaction covers 7,050 towers. It is part of a series of deals which will see Cellnex acquire a total of 24,600 sites.

Out of the 24,600 sites to be purchased, 8,900 are in Italy, 6,000 in the U.K., 1,150 in Ireland, 2,650 in Sweden, 1,400 in Denmark and 4,500 in Austria.

Cellnex agreed to pay cash for CK Hutchison's assets in Austria, Denmark, Ireland, Sweden and Italy, while payment for the U.K. towers will consist of both cash and new Cellnex shares.