Cellnex Telecom, a Spanish wireless telecommunications infrastructure and services company, completed the acquisition of c. 24.6k European telecom towers from CK Hutchison, a diversified holding company, for €10bn ($11.8bn). The series of transactions are subject to formal closing conditions, including, where applicable, clearance from competition authorities. It is expected to complete them on a staggered and per country basis over the next 18 months. “The transformational nature of the agreements, which strengthens Cellnex’s position as one of the main Europe-wide telecommunications infrastructures operator, with a portfolio of c. 103k sites once the transactions and rollouts are complete. We will now be present in three new significant markets – Sweden, Austria and Denmark – and will further build upon our role as a key operator in three of our core markets, namely Italy, the UK and Ireland,” Franco Bernabe, Cellnex Chairman. On May 18, 2021, the Competition and Markets Authority has opened an investigation into Cellnex and CK Hutchison's infrastructure deal. On December 16, CMA said the deal is anti-competitive. Cellnex will offer remedies shortly. On March 3, 2022, UK regulator orders Cellnex to sell 1k towers to buy CK Hutchison units.