S&P Global Market Intelligence provides a wrap-up of European media and communications deal announcements, completions and updates from Dec. 30, 2019, to Jan. 3, 2020.
* Cellnex Telecom SA agreed to purchase Portuguese telecommunications tower and site operator OMTEL Estruturas de Comunicações SA for an enterprise value of €800 million under a deal with Altice Europe and Belmont Infra Holding. As part of the deal, Altice Europe subsidiary MEO sold its 25% equity interest in OMTEL to Cellnex Telecom, in a deal expected to yield cash proceeds of up to €200 million. OMTEL is a joint venture between Altice Europe, Morgan Stanley and Horizon Equity Partners, Bloomberg News reported, citing a regulatory filing. The acquisition of OMTEL includes 400 sites that will be rolled out over the next four years. Cellnex Telecom will fund the transaction and future investments with available cash and generated cash flows.
* A consortium led by Chinese conglomerate Tencent Holdings Ltd. agreed to purchase a 10% equity stake in Universal Music Group Inc. from France-based Vivendi SA in a deal that values the total music enterprise at €30 billion. Under the terms of the agreement, the consortium has the option to purchase up to an additional 10% equity stake in Universal Music Group at the same enterprise value until Jan. 15, 2021. Prior to the closing of the transaction, Tencent Music Entertainment and Universal Music Group plan to enter into a second agreement that grants Tencent Music Entertainment an option to acquire a minority equity stake in Universal Music Group's Greater China business. The Tencent-led consortium is joined by Tencent Music Entertainment Group and certain global financial investors, according to Dec. 31 company release.
* E-commerce company Amazon.com Inc. completed the full acquisition of Net Insight AB's consumer streaming unit Sye for about 350 million Swedish kronor in cash. The acquisition includes the Sye technology, which solves issues in distributing business-to-consumer streaming platforms, as well as relevant intellectual property rights, contracts and about 30 employees and consultants.
* American Tower Corp. completed its approximately $1.85 billion acquisition of London-based Eaton Towers Holdings Ltd., including the assumption of existing Eaton Towers debt. The deal adds about 5,700 communications sites to the communications-focused real estate investment trust's African portfolio.
* Pension fund OFE PZU Zlota Jesien sold its 5.56% stake in IT company Asseco Poland SA to Polish pay TV operator Cyfrowy Polsat SA for nearly 300 million Polish zlotys, Telecompaper reported Jan. 2, citing Rp.pl.
* ER-Telecom fully acquired Binom-TV, a provider of intercom systems for apartment buildings in Lipetsk, Russia, Telecompaper reported Dec. 30, 2019, citing Cnews.ru. The seller is the Lipetsk city-municipality.
* Russian regional operator PJSC Bashinformsvyaz acquired an additional 46.5% stake in Rostelecom PJSC's corporate pension fund Alliance, bringing the former's total stake to 97.5%, Telecompaper reported Dec. 30, 2019, citing Comnews.ru.
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