Trigon acted as lead advisor for Cyfrowy Polsat’s sale of Polkomtel Infrastruktura

Trigon advised Cyfrowy Polsat S.A. to sell its mobile infrastructure for over PLN 7bn (c. EUR 1.6bn) to Cellnex Telecom.

It marks the first transaction of its kind, with full responsibility for network management being transferred to Cellnex, the leading European operator of telco infrastructure, via true sale instead of lease-back. Polkomtel’s core network & all frequencies crucial for providing 5G and 2G/3G/LTE remain in CP’s possession.

Trigon acted as lead financial advisor to Cyfrowy Polsat, also having supported the company in developing the business model & concept for the InfraCo, Polkomtel Infrastruktura. Greenberg Traurig Poland advised on legal matters.

Trigon has been advising the Polsat Group for over 20 years already and look forward to our future cooperation. 

Andrzej Sykulski, Trigon Co-founder, said

“Once again Cyfrowy Polsat is taking an innovative and bold action, which is well ahead of the market trends and potentially setting a course for other MNOs.  Trigon has been the lead financial advisor to Cyfrowy Polsat Group for over 20 years now and we are delighted to be a part of our Client’s visionary approach yet again." 

“Infrastructure sharing has been a hot topic for quite some time. Despite of the prove of concept and obvious synergies resulting from passive infrastructure sharing, mobile operators have been reluctant to take the next step and share the emission equipment. Naturally it is more complicated and requires skillful telecom infrastructure operator, but it would mean not only more synergies, but a completely new level of integration and value creation for various market participants. MNOs once relieved from upfront capex and emboldened by lower operating cost would able to venture in less densely populated areas and to adopt new technologies more quickly. Infrastructure operators required to meet expectation of multiple tenants would have to and could effort to invest in the most advanced and reliable equipment. And the end-users should benefit from better coverage and improved quality.·

Tomasz Rewera, leading the transaction at Trigon, commented

Cyfrowy Polsat i Cellnex, with this pioneering transaction, decided to test this path. Will other operators follow the suit? They will have a chance soon when the upcoming 5G rollout may give a good opportunity”, 

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