Cellnex Telecom SA (ES:CLNX) has released an update.
Cellnex Telecom SA has struck a deal to sell its subsidiary On Tower Austria to a consortium for an enterprise value of 803 million euros, which will aid in its deleveraging efforts. The transaction, pending regulatory approval, is expected to help the company reassess its capital allocation following the sale. On Tower Austria contributed 83 million euros in revenue and 39 million euros in EBITDA in the fiscal year 2023.
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