October 17， 2025
In a significant move this week, European tower operator Cellnex has announced plans to divest its French data center business. Through its wholly owned subsidiary Cellnex France, the company entered into a put option agreement with Vauban Infra Fibre (VIF) for the sale of 99.99 percent of Towerlink France, the entity responsible for the group’s main data center operations in the country. The all-cash transaction is valued at €391 million ($457.6m).
The acquisition centers on Towerlink, a company founded in 2018 that owns, operates, and develops urban Edge data centers with a presence across multiple sites in France. While specific facilities included in the deal were not detailed, Cellnex’s website indicates it has more than 100 Edge data centers across France operated through its NexLoop unit. According to NexLoop's own data, approximately 80 of a planned 130 facilities have been deployed nationwide. These operational sites currently total 1,140 square meters and 362kW of capacity, with an additional 546 square meters and 314kW under construction. The deployed network spans key French locations including Lille, Strasbourg, Paris, Quimper, Nantes, Bordeaux, Lyon, Grenoble, Marseille, and Nice.
This transaction follows news from last year that Cellnex was planning to sell its French data center assets. The company stated this planned divestment allows the group to sharpen its focus on core business areas. “We remain committed to operational excellence and disciplined capital allocation, always with the objective of delivering sustainable growth and long-term value for our shareholders,” said Marco Patuano, CEO of Cellnex.
For the buyer, Vauban Infra Fibre, the deal represents a strategic expansion. VIF, a French company backed by funds from Vauban Infrastructure Partners, entities of Crédit Agricole Assurances, and Raffles, a subsidiary of GIC, operates fiber networks across France. The company stated the acquisition will strengthen its position in the French market and diversify its base of digital infrastructure. It will also reinforce VIF's partnership with Bouygues Telecom, Towerlink’s main client. Steve Ledoux, CEO of VIF, commented, "Towerlink will thrive within VIF by continuing to deliver our common ambition and accelerate our development in the data center market, and by implementing attractive synergies with other French data centers and digital assets of the portfolio. We look forward to supporting the company in deploying a high-quality portfolio of assets throughout France.”
The deal was facilitated by a team of advisors. Cellnex was advised by BBVA and CACIB as M&A advisor, HSFK as legal and tax advisor, and Analysys Mason as commercial advisor. Vauban Infra Fibre was advised by Nomura as M&A and debt advisor, Clifford Chance Europe LLP as legal advisor, Altman Solon as commercial and technical advisor, Eight Advisory as financial and tax advisor, and Marsh as insurance advisor.
This sale highlights the evolving portfolios of both companies. Cellnex, a tower firm managing a portfolio of more than 110,000 sites across ten European countries including Spain, France, the UK, Italy, and Poland, will continue its data center operations in other markets, including sites in Spain and the Netherlands. Meanwhile, Vauban Infrastructure Partners, an infrastructure asset manager that has raised approximately €10 billion ($11.7bn) across eight funds and has other data center investments like Icelandic operator Borealis, sees this as a key commitment.
Gwenola Chambon, founding partner of Vauban Infrastructure Partners, added, "VIF’s proposed investment in Towerlink confirms our strong commitment to finance infrastructure assets that are essential to the development of local communities, alongside with our historical partners.” VIF itself manages more than 13 million FTTH connectable lines through 25 assets across rural, urban, and medium-density areas in France.
SOURCE DCD
