(Telecompaper) Spanish operator Cellnex has agreed to acquire the tower infrastructure of Polish operator P4 from France's Iliad group. Under the deal, Cellnex will buy about 7,000 sites, and pay EUR 800 million for a 60 percent controlling stake in the company that will manage those sites. The newly-created tower company plans to invest up to EUR 1.3 billion into rolling out of up to 5,000 new sites over the next 10 years. Iliad launched
a takeover bid for Play last month and is expected to
close that deal by November. The agreement between Iliad and Cellnex is expected to complete in the second quarter of next year. At that point, Cellnex will have 73,000 sites in nine countries.