AZ Capital advised Cellnex on the agreement with Bouygues Telecom to invest over EUR 1bn in a fiber optic network in France

Cellnex Telecom, Europe’s largest independent operator of wireless infrastructure, announced that it has reached an agreement with French mobile phone, Internet service provider and IPTV company Bouygues Telecom, to invest EUR 1bn over the next 7 years for the roll-out of a Fixed and Mobile Transport Fiber Network that will enhance the 5G ecosystem in France. Cellnex will create and manage a new company that will operate a fiber network to connect rooftops, towers, telecommunications sites and edge computing centres. Bouygues Telecom will be the anchor tenant of the new network and will sign a 30+5 year contract that extends Cellnex’s backlog of contracted future sales by EUR 4bn. Once the network and the “metropolitan offices” are fully deployed, the EBITDA generated by the new company will stand at EUR 80m.

The acquisition is subject to customary regulatory approvals.

AZ Capital

Advised in the sale of

Bouygues Telecom (fiber optic network)


Cellnex Telecom S.A.

Technology, Media, and Telecom

MidCap Alliance