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Altice Europe unit sells stake in OMTEL to Cellnex in €200M deal

Altice Europe subsidiary MEO sold its 25% equity interest in Portuguese tower company OMTEL to Cellnex Telecom SA in a deal expected to yield cash proceeds of up to €200 million.

The transaction is part of a larger deal, pursuant to which Cellnex is acquiring 100% of the share capital of OMTEL, according to a Jan. 2 news release.

Through this transaction, Altice Europe will partner with Cellnex in Portugal for the provision of hosting services over mobile passive infrastructure and the construction of new sites through a build-to-suit program.

OMTEL operates 3,000 tower sites.