May 7, 2019 / 9:48 AM / 3 months ago

Cellnex CEO says UK's CTIL matches its criteria as takeover target

MADRID (Reuters) - Spanish phone towers group Cellnex may consider a takeover bid for British tower company CTIL, but could not afford to invest in France’s TDF after agreeing to buy 10,700 sites in France, Italy and Switzerland, its chief executive said on Tuesday.

“If you look at CTIL it matches all the requirements as a target for Cellnex,” CEO Tobias Martinez told analysts on a conference call after announcing the 4 billion euro (3 billion pounds) investment.

Asked whether his firm would look to buy a stake in TDF, as Spanish newspaper Expansion reported earlier this year, Martinez replied: “We cannot afford in parallel a project like TDF.”

Reporting by Andres Gonzalez, editing by Isla Binnie

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