Cellnex's CEO expects sector consolidation in Europe -Il Sole 24 Ore
15/12/2023 07:52
MADRID, Dec 15 (Reuters) - Spanish mobile phone mast
operator Cellnex's CLNX.MC 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.
(Reporting by Inti Landauro and Andrea Mandala; editing by
Jason Neely)
((Inti.Landauro@thomsonreuters.com;))