Founded in 2015 as a spin-off from Abertis Telecom, Cellnex Telecom has grown into Europe's largest independent operator of wireless telecommunications infrastructure. The company manages a portfolio of over 130,000 sites across multiple European countries, including Spain, France, Italy, and the United Kingdom. Its core business model involves acquiring and building telecom towers, then leasing space on these structures to mobile network operators under long-term, inflation-linked contracts. Beyond passive tower infrastructure, Cellnex provides distributed antenna systems (DAS), small cells, fiber-to-the-antenna connectivity, and audiovisual broadcasting services. Although it operates a business model similar to a real estate investment trust (REIT) by generating recurring rental income, Cellnex is legally structured as a standard corporation.
