The Competition and Consumer Protection Commission (CCPC) has approved the €971 million sale of Cellnex's Irish unit to Florida-based Phoenix Tower International. The deal, originally notified in March 2022, faced potential competition concerns due to market concentration. To address these, Phoenix committed to divesting sites to maintain competition in the hosting services market.
Competition watchdog gives green light to sale of Irish unit of Cellnex to Florida-based Phoenix Tower International
It went on to develop more sites and, in 2021, acquired hundreds more towers from mobile phone operator Three Ireland’s owner, CK Hutchison, for about €600 million. The Three sites were part of a wider €10 billion sale of CK Hutchison assets in Europe to Cellnext. It entered the Irish market four years ago with the acquisition of Emerald Tower, which owns more than 650 mobile masts, for €300 million from Eir.
Following an extended preliminary investigation, the CCPC determined in July that a full investigation was required to establish if the proposed transaction would lead to a substantial lessening of competition in the State. The CCPC’s potential concerns included an increase in market concentration through the loss of close competition between Phoenix and Cellnex resulting in higher prices and/or lower service quality for their customers and, ultimately, end users of mobile networks.To address these potential concerns, Phoenix made a number of binding commitments to the CCPC.
TELECOM MERGER COMPETITION IRELAND INFRASTRUCTURE
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