Deals

Cellnex Nears $12 Billion Tower Unit Deal With CK Hutchison

Li Ka-shing’s CK Hutchison says no final decision on deal yet
Spain-based Cellnex has been snapping up towers across Europe

Spain's Cellnex Telecom SA Sites As Company Eyes Stake In $11 Billion Tower Deal — Photographer: Angel Garcia/Bloomberg

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By Gillian Tan, Manuel Baigorri, and Rodrigo Orihuela

November 4, 2020 at 8:59 AM UTC

Updated on

November 4, 2020 at 11:03 AM UTC

This article is for subscribers only.

Billionaire Li Ka-shing is closing in on a sale of his European telecommunication towers to Spain’s Cellnex Telecom SA for about 10 billion euros ($11.7 billion).

Li’s Hong Kong-based conglomerate CK Hutchison Holdings Ltd. has reached a “substantial agreement” on terms but hasn’t taken a final decision, according to a filing Wednesday. Cellnex separately confirmed the talks that Bloomberg News reported last month, without disclosing a value.