HomeNewsNOS Towering sells assets to Cellnex for €550 million

    NOS Towering sells assets to Cellnex for €550 million


    The Portuguese pay-TV, broadband and mobile service provider has agreed to transfer its 2,000 tower and rooftop transmitter sites to Spain’s Cellnex.

    About 40% of the sites are in urban areas and the rest in rural locations.

    NOS has also contracted Cellnex to provide its tower infrastructure needs for the next 15 years. The agreement paves the way to extend the contract by subsequent periods of 15 years if the parties are amenable.

    The agreement anticipates that NOS will need an extra 400 sites over the next six years, and Cellnex is to invest up to €175 million building them.

    Further payment

    NOS will receive an additional payment of €375 million as part of a deal that could be worth €550 million over five years.

    The transaction is subject to approval by the Portuguese competition authority, but if approved, NOS claims the agreement will enable it to expand mobile coverage and to invest more heavily.

    Rival actions

    Cellnex entered the Portuguese market in January when it reached an agreement with Altice Europe and Belmont Infra Holdings, to acquire the 100% of Portuguese telecoms towers and sites operator OMTEL for an equivalent of €800 million. The acquisition covers the roll out 400 sites in the next four years.