MADRID, Feb 22 (Reuters) - Telecom group Cellnex could bid for CTIL Tower Infrastructure, a Telefonica and Vodafone joint venture, if they put it up for sale, the Spanish company’s CEO said on Friday.
“In the United Kingdom, I think it’s public that there is one company that is CTIL, which is owned 50 pct by Telefonica and 50 pct by Vodafone, and they have publicly stated that they want to sell it,” CEO Tobias Martinez said at a news conference. “Of course we would be interested in analysing it, it fits perfectly in our strategy.”
Cellnex, which already has 23,400 tower sites after adding 8,000 sites since 2015 through M&A deals, is looking for ways to grow further in its six main markets (Spain, France, Netherlands, UK, Italy and Switzerland).
“There are deals coming in the six countries where we have presence,” said Martinez said.
The company, which reported an 18 percent core profit rise in 2018, wants to buy controlling stakes and has said there are different options to finance the new investments, including raising capital from shareholders.
ConnecT, main shareholder of Cellnex with a 29.9 pct stake, has stated that it will support the company’s growth strategy.
“Cellnex will buy something new. We hope this year we will buy something,” said on Friday Cellnex chief financial officer Jose Manuel Aisa.
Vodafone and Telefonica said last month they would explore “potential monetisation” of their joint venture.
The two companies said in a statement they were “exploring options around their future transmission operating model which could drive synergies in the investment and operation of their end-to-end networks” in Britain. (Reporting by Andres Gonzalez, editing by Jane Merriman)