AZ Capital advised Cellnex on the acquisition of Arqiva’s Telecoms division

Arqiva is a leading UK communications infrastructure and media services provider dedicated to connecting people and devices wherever they are through the delivery of TV, radio, mobile and machine-to-machine data services. They are an independent provider of telecom towers, with circa 8,000 active sites across Great Britain, and are also the only supplier of national terrestrial television and radio broadcasting services in the UK. Cellnex Telecom, Europe’s largest independent operator of wireless infrastructure, announces it has reached an agreement to acquire Arqiva’s Telecoms division for a total consideration of c. GBP 2.0bn. The business and assets to be acquired are expected to generate up to c. GBP 170m of annual adjusted EBITDA in 2020, with Cellnex accounting for the business from closing, which is expected in H2 2020. The deal is subject to customary antitrust authorizations as well as other conditions precedent.
The transaction involves the acquisition of c.7,400 owned sites and the rightsto market c. 900 additional sites, all of them spread across the UK. As a result Cellnex will become the largest independent operator of wireless infrastructure in the UK. The deal involves concessions to use street infrastructure as locations for telecom sites in 14 London boroughs. This is a key element for further extension and network densification ahead of the 5G roll out.

AZ Capital

Advised in the sale of

Arquiva (Telecoms division)


Cellnex Telecom S.A.

Technology, Media, and Telecom

MidCap Alliance