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Spain’s Cellnex plans to sell assets in Austria, Ireland, Cinco Dias says

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Cellnex’s logo is displayed, during the GSMA’s 2023 Mobile World Congress (MWC) in Barcelona, Spain March 1, 2023. REUTERS/Nacho Doce/File photo Acquire Licensing Rights

MADRID, Nov 20 (Reuters) – Spanish mobile phone masts operator Cellnex (CLNX.MC) plans to sell its Austrian and Irish businesses or stakes in the two units as part of its strategy to cut its debt, newspaper Cinco Dias reported on Monday citing unidentified market sources.

A spokesperson for Cellnex declined to comment.

Cellnex which had fuelled its 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.

In September, Cellnex had announced the sale of a 49% stake in its Swedish and Danish units to infrastructure investor Stonepeak for 730 million euros ($796.21 million).

($1 = 0.9168 euros)

Reporting by Inti Landauro, Editing by Louise Heavens

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