Cellnex has reached an agreement with Orange Spain to acquire a portfolio of 1,500 telecommunications sites such as Towers and antennas located in urban, suburban and rural areas of Spain. The operation involves an overall investment of EUR 260 million (US$ 287.6 million) for Cellnex. The acquisition will be financed through available cash.

Cellnex and Orange Spain have also signed an initial 10-year contract —that can be extended by a subsequent period of 10 years and several 1 year periods—, under the terms of which Orange Spain will continue to use the sites that will be operated by Cellnex, placing its voice and data signal transmission equipment in them.

Over the current year 2019 Cellnex struck several agreements to acquire assets and companies which, once signed and with all the associated programme for the construction of new sites rolled out, will mean an increase of some 25,000 assets in the current portfolio in the seven European countries in which the company is present.