Cellnex’s Portuguese subsidiary, ON Tower, is set to acquire six telecom towers from NOS Technology, according to a regulatory filing. The deal, pending approval from the country’s competition authority (AdC), involves the purchase of macro-sites that support wireless communication networks.
While financial terms have not been disclosed, the agreement outlines an initial lease period of 15 years, with options for successive 15-year extensions. ON Tower currently manages approximately 6,400 sites across Portugal, while OMTEL and Towerlink Portugal, Unipessoal, Lda operate the country’s micro-sites.
Also Read: Cellnex to Sell Austrian Business for EUR 803 Million, Exiting Market
Cellnex’s Market Presence
This acquisition builds on Cellnex’s 2020 deal with NOS, which saw the company take over 2,000 tower sites and commit to developing an additional 400 sites over the following six years. The company operates over 138,000 sites across 12 European countries, including planned expansions through 2030.
Cellnex has also been actively selling assets in recent months. In August, the company sold its Austrian business for EUR 803 million (USD 877 million), while in March, it reached an agreement to sell its Irish unit to Phoenix Tower International for EUR 971 million (USD 1.06 billion), a deal currently under regulatory review in Ireland. Additionally, earlier this year, Cellnex was linked to a potential sale of its Polish operations, valued at EUR 3 billion (USD 3.28 billion), excluding debt.
In 2022, Cellnex sold a 49% stake in its Swedish and Danish subsidiaries to Stonepeak for EUR 730 million (USD 797 million), further streamlining its European portfolio.
The new transaction further strengthens Cellnex’s presence in the Portuguese market.
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