MADRID, May 7 (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 ($4.48 billion) 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.” ($1 = 0.8930 euros) (Reporting by Andres Gonzalez, editing by Isla Binnie)
Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.
Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.