Cellnex CEO expects more phone towers deals in 2019-2020

MADRID: Cellnex, Europe’s biggest phone towers group, expects more deals to take shape in 2019-2020 after a recent $3-billion splurge on assets owned by French tycoon Xavier Niel, its chief executive said on Thursday.

“Now is the moment, 2019-2020,” Tobias Martinez told Reuters in an interview. “I see results materialising, because we worked in 2018 … We expect to keep doing M&A deals.”

Cellnex has snapped up tens of thousands of phone tower sites in Europe in the past three years and is now considered a key player in consolidating the telecoms infrastructure market.