Spanish telecommunications infrastructure firm Cellnex announced on Friday that it has entered into a put option agreement to divest its entire 99.99% stake in Towerlink France to Vauban Infra Fibre for a sum of 391 million euros ($458 million).
The transaction, executed through the French subsidiary of Europe’s leading mobile phone tower operator, will be settled entirely in cash upon its formal completion.
This move follows a September report from Reuters, which cited informed sources, that Cellnex was in discussions with advisors about a potential sale of its French data center operations. The aim is to sharpen the company’s strategic focus on its core activities, marking a shift from an aggressive acquisition strategy to strengthening its financial profile.
Towerlink France is the entity that houses the principal data center assets of Cellnex within the French market.
This disposal continues a series of divestments for Cellnex, which earlier this year sold its Austrian operations for an enterprise value of 803 million euros and its Irish business unit for 971 million euros.
