Cellnex completed the acquisition of Hivory from Altice and KKR for $6.3bn.

Cellnex, a Spanish wireless telecommunications infrastructure and services company, completed the acquisition of Hivory, a telecommunications tower operator, from Altice, a French multinational telecommunications corporation, and KKR for $6.3bn with an additional investment of c.$1bn over the next 8 years aimed to deploy, among other projects, up to 2k new sites. “The purchase of Hivory emphasises the rationale behind the business model of neutral and independent telecommunications infrastructure operators. With the integration of Hivory, we will be working with three of the largest mobile operators in France, promoting infrastructure sharing; freeing up financial resources from those operators; promoting processes for the rationalisation of existing sites; and accelerating the deployment of new locations that both ensure the efficient and fluid extension of 5G coverage in the country and the effective fulfilment of an objective that is also shared by the players in the sector: eliminating “not-spots” or areas without coverage," Tobías Martínez, Cellnex CEO.