Cellnex Telecom has struck a deal to acquire six telecom towers from Portuguese carrier NOS.
In a regulatory filing, Cellnex confirmed plans to snap up the passive infrastructure assets through its Portuguese subsidiary On Tower.
Financial terms were not disclosed in the filing, and the deal is pending approval from the Portuguese Competition Authority (AdC).
The contract covers an initial period of 15 years, which can also be extended by additional 15-year periods.
On Tower manages around 6,400 sites across Portugal.
Cellnex acquired the NOS tower portfolio in 2020, a deal that covered 2,000 sites, plus an agreement for an additional 400 new sites over the next six years.
Spanish telecom infrastructure Cellnex currently manages a portfolio of over 138,000 sites – including planned roll-outs up to 2030 – in 12 European countries.
Last month, the company agreed to sell its Austrian business for €803 million ($877m).
Cellnex has sold a number of assets in the last 12 months. In March, it agreed to sell its Irish unit to Phoenix Tower International (PTI) for €971m ($1.06bn). That deal is currently being probed by Irish regulators.
The company was also linked with a sale of its Polish business operations earlier this year, in a deal valuing the assets at €3 billion ($3.28bn) excluding debt.
Last year, Cellnex agreed to sell a 49 percent stake in its Sweden and Denmark subsidiaries to Stonepeak for €730 million ($797m).
