Cellnex close to buying Madrid subway's telecom firm Metrocall: Expansion

FILE PHOTO: The logo of SpainÕs telecoms infrastructures firm Cellnex is seen in a glass at the entrance of the control room of main telecom tower "Torrespana" , known as "Piruli", in Madrid, Spain, March 10, 2016. REUTERS/Sergio Perez

MADRID (Reuters) - Spanish cellphone tower operator Cellnex CLNX.MC is close to buy Metrocall, the company providing mobile telecom services in the Madrid metro and is controlled by Indra IDR.MC, Expansion newspaper reported, citing market sources.

Metrocall was valued at 60 million euros ($70.03 million) by analysts, the newspaper said.

Representatives for Cellnex and Indra declined to comment.

Spun off from Spanish infrastructure operator Abertis ABE.MC in 2015, Cellnex has bought tens of thousands of phone towers across Europe in the past few years and now controls more than 50,000 sites. It is seen as a key player in a potential consolidation of the European telecoms infrastructure market.

Reporting by Inti Landauro, editing by Louise Heavens