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Clifford Chance Advises Cellnex Telecom on Acquisition of Final 30% Stake in OnTower

Clifford Chance Advises Cellnex Telecom on Acquisition of Final 30% Stake in OnTower

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Clifford Chance, working with the Paris office of Herbert Smith Freehills, has advised Cellnex Telecom on its acquisition of the remaining 30% stake in Polish telecommunications infrastructure company OnTower from Iliad. Soltysinski Kawecki & Szlezak, working with Bredin Prat, reportedly advised the seller.

According to the company's press statement, "Cellnex will now control 100% of [OnTower], the Group’s subsidiary in Poland. The transaction amount is circa EUR 510 million."

OnTower was set up by Cellnex and Iliad in 2021 as part of Cellnex’s acquisition of a network of approximately 7,000 sites from mobile operator Play in Poland. OnTower Poland currently operates a total of 8,500 sites in Poland and plans to deploy up to 3,400 new sites by 2030, and has a 20-year service provision contract with Play, extendable for additional successive 10-year periods, the company announced.

Back in 2020, Clifford Chance and Soltysinski Kawecki & Szlezak had also advised on the initial acquisition of a 60% stake in the tower company for a reported EUR 800 million (as reported by CEE Legal Matters on November 2, 2020).

The Clifford Chance team included Counsel Krzysztof Hajdamowicz and Lawyer Marta Marzysz.

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