The CEO of Cellnex, Marco Patuano, unveiled the company’s roadmap for Spain, which does not include a return of the headquarters to Catalonia. Instead, the plan includes participation in the process of consolidating the tower market in Spain and the creation of a new vehicle in Spain to acquire land, called Celland. The company emphasized the importance of stability and a long-term approach in their strategy.
The market in Spain is consolidating with the merger of Orange and MsMvil, leaving only three large operators with networks for four tower companies. This situation indicates that one of the tower companies may not receive contracts from the operators. Cellnex is prepared to navigate this evolving landscape and sees potential opportunities for growth through acquisitions and partnerships.
The company is also focusing on refinancing debt to increase fixed-rate debt and lower long-term interest rates. They are exploring the possibility of an extraordinary dividend if the Austria towers are sold but will only proceed if the price is right. Patuano highlighted the importance of organic growth and the speed of deployment as key factors in the company’s success.
In addition to financial matters, Cellnex is actively pursuing the deployment of their network and the acquisition of new land for their towers. They are also considering share buybacks as an investment opportunity due to the low share price. Overall, the company is focused on strategic growth and maintaining stability in the evolving market landscape.
Cellnex’s approach to the tower market in Spain reflects a long-term vision and a commitment to strategic growth. By participating in market consolidation and focusing on organic growth, the company aims to establish a strong presence in the Spanish market and position itself for future success. Through a combination of acquisitions, partnerships, and financial restructuring, Cellnex is poised to thrive in the evolving telecommunications industry.