Cellnex Telecom, a Spanish telecommunication tower operator has announced it has completed the acquisition of a package of 230 cell towers distributed throughout France from Bouygues Telecom.

The acquisition reached a total amount of €80 million ($89.4 million) and it is accompanied by a 20-year contract for Cellnex to provide services to Bouygues Telecom.

The 230 towers are mostly in suburban and rural areas.

According to sources, Cellnex is also currently working with Bouygues on the second phase of the agreement signed in July, which contemplates a possible increase up to 500 towers, which is expected to close before the end of the year.

Bouygues Telecom currently operates a portfolio of 11,000 sites in the French market. 

Cellnex’s portfolio currently comprises more than 16,100 sites across Europe. The firm operates in Spain, Italy, the Netherlands and France.

Cellnex’s CEO Tobias Martinez said:

“We are embarking on a long-term collaboration that opens the door to other areas of interest such as the construction of new build-to-suit sites or the rollout of new technologies based on small cells for mobile broadband. We are bolstering our European reach and, with it, the ability to build agreements and alliances with customers operating in various European countries to which we can offer connectivity solutions for telecommunications.”