Cellnex's CEO expects sector consolidation in Europe -Il Sole 24 Ore
Reuters
Published Dec 15, 2023 07:55
MADRID (Reuters) - Spanish mobile phone mast operator Cellnex's CEO Marco Patuano expects consolidation in the industry in 2025 or 2026, Italian newspaper Il Sole 24 Ore reported on Friday.
"The passive digital infrastructure business is a business of scale. You can only be a relevant and efficient player if you have scale," Patuano was quoted as saying by the newspaper.
A company spokesman confirmed the comments.
Cellnex, which had fuelled a fast expansion in many European countries through debt for several years, has switched to focus on reducing debt and upgrading its credit rating by next year.
The company has raised cash to reduce its debt by selling stakes in it units in the Nordic region and has said it intends to speed up asset sales.
It is also considering disposing stakes in its businesses in Austria and Ireland.
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Written By: Reuters
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