Cellnex has made a decisive move in the telecom infrastructure landscape by agreeing to sell its French data center subsidiary, Towerlink, to Vauban Infra Fibre for a cash sum of €391 million. This transaction represents a complete exit from Cellnex’s French data center operations as part of a broader strategy aimed at financial realignment and reducing debt.
The Towerlink sale, which involves the transfer of 99.99% of the company’s share capital, will be executed through Cellnex’s subsidiary based in France. Under this structured deal, ownership of Towerlink’s operations will shift to Vauban Infra Fibre, a company bolstered by investments from Crédit Agricole Assurances and GIC’s Raffles. The completion of this transaction is contingent upon the fulfillment of standard regulatory and contractual conditions.
Cellnex has highlighted that Towerlink has been integral to its Edge data center operations in France, providing essential connectivity services to major clients, including Bouygues Telecom. The divestment aligns with Cellnex’s strategic objective to concentrate on mobile tower assets and improve its balance sheet.
Towerlink Divestment Aligns with Cellnex’s Strategic Shift
This sale is not an isolated event; it follows a series of asset disposals by Cellnex, including previous sales in Austria and Ireland. To date, these transactions have generated over €2 billion, reflecting the firm’s shift from an acquisition-driven growth model to one focused on consolidating and strengthening its financial position.
Towerlink oversees a robust network of Edge data centers strategically located across key French cities, including Paris, Marseille, and Lyon. Of its planned 130 sites, approximately 80 have already been deployed, offering scalable digital infrastructure that is vital for urban connectivity.
In its communications, Cellnex has emphasized that this sale enables disciplined capital allocation and enhances operational efficiency. Moreover, the transaction simplifies its operations in France while maintaining a strong presence in mobile tower management, with over 110,000 tower sites across ten countries, including France, Spain, and Italy.
Vauban Infra Fibre Expands Digital Asset Portfolio with Towerlink
For Vauban Infra Fibre, acquiring Towerlink represents a significant opportunity to expand its footprint in France’s digital ecosystem. This acquisition enhances Vauban’s existing fiber infrastructure, which currently manages over 13 million FTTH (Fiber to the Home) lines across various regions.
The transaction also strengthens Vauban’s relationship with Towerlink’s primary customer, Bouygues Telecom, as it seeks to leverage synergies with its other assets to improve scale and operational efficiency. Vauban Infrastructure Partners, the parent fund of VIF, has successfully raised €10 billion across multiple infrastructure vehicles, underscoring its commitment to digital infrastructure development.
Supporting Vauban in this transaction were advisors such as Nomura, Altman Solon, and Clifford Chance Europe LLP. Towerlink will now be integrated into VIF’s platform, aiming to accelerate the deployment of data centers and enhance service delivery across France.
Context and Industry Positioning
Since its inception seven years ago, Towerlink has played a pivotal role in Cellnex’s ambitions within the French data center market. The facilities operated by Towerlink were part of Cellnex’s NexLoop unit, which was designed to provide low-latency infrastructure for urban environments. With this sale, Cellnex has completely exited the French data center segment.
Despite this divestment, Cellnex remains active in the digital infrastructure arena through its extensive tower network in Spain, the Netherlands, and beyond. The company continues to manage high-tech telecom and data towers, prioritizing operational efficiency and expansion.
The Towerlink transaction highlights a growing trend of consolidation within the European data center and telecom infrastructure sectors. As companies like Vauban expand their asset bases, operators like Cellnex are streamlining their portfolios, both parties recognizing the long-term value of efficient digital infrastructure development.
