Spain's Cellnex, Europe's largest mobile phone tower operator, said on Friday it had signed a put option agreement to sell its entire 99.99% stake in its French data center business Towerlink France to Vauban Infra Fiber for 391 million euros (US$458 million).
The transaction was completed through Cellnex's French subsidiary and will be paid in full in cash on the date of completion of the transaction.
Reports emerged last month that Cellnex was discussing with advisers the possibility of selling its data center business in France to focus on its core business, while shifting its strategy from acquisitions to boosting finances.
Towerlink France is responsible for Cellnex's primary data center business in France.
Earlier this year, Cellnex sold its Austrian business for a corporate value of 803 million euros and its Irish business for 971 million euros.
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