A Spanish infrastructure group has agreed to buy Arqiva’s telecoms unit for £2 billion in a deal that would make it the biggest independent operator of wireless infrastructure in Britain.
The Barcelona-based Cellnex will acquire about 7,400 mobile towers and the rights to market a further 900 sites in the UK as a result of Arqiva’s decision to focus on its broadcasting mast business. The purchase involves concessions to use street infrastructure as locations for telecoms sites in 14 London boroughs.
Arqiva’s telecoms division serves Britain’s four mobile network operators individually on single, shared sites. Cellnex expects its acquisition of the British provider’s business, which is based in Winchester, to contribute £170 million in earnings before interest, tax and other charges next year. The group…