Spain’s Cellnex said on Friday that it has signed a put option agreement to sell all its 99.99 per cent share capital in Towerlink France to Vauban Infra Fibre for 391 million euros ($458 million).
The deal, made through the French subsidiary of Europe’s largest mobile phone tower operator, will be fully paid in cash on the closing date of the transaction.
In September, Reuters reported – citing people familiar with the matter – that Cellnex was discussing with advisers a potential sale of its data center business in France to focus on its core business as it shifts strategy from acquisitions to bolstering its finances.
Towerlink France is the company responsible for Cellnex’s main data center operations in France.
Earlier this year, Cellnex sold its Austrian business for an enterprise value of 803 million euros and its Irish unit for 971 million euros.
($1 = 0.8538 euros)
