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Poland Quick View: Cellnex Expansion In Poland Increases Competition Concerns

机译：波兰快速观点：波兰的Cellnex扩张增加了竞争问题

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The Latest: Cellnex has reached an agreement with Iliad to buy around 7,000 sites from Play. Iliad is currently in the process ofacquiring the Polish operator. The Spain-based towerco will invest EUR800mn to secure a 60% stake in the newly-created entitythat will manage Play’s sites. Iliad will retain control over the remaining 40%.Implications: The monetisation of Play’s mobile assets was expected, as the operator had already flagged its intention to spin offand sell part of its mobile infrastructure, a strategic plan supported also by Iliad. With the launch of 5G services, Polish telcos arefaced with the need to ramp up capital-intensive investment, but cost-effectiveness remains at the top of the agenda. Themonetisation of mobile assets and network sharing agreements are both effective ways to ensure network expansion while limitingexpenses. Furthermore, with a possible ban on Huawei looming over Polish operators - and with it prospects of rising costs - costeffectiveinfrastructure deployment will continue to be paramount for telcos’ financial health.
机译：最新的：Cellnex已与Iliad达成协议，从游戏中购买大约7,000个网站。 Iliad目前正在进行中获取波兰操作员。西班牙的塔科将投资800万欧元，以确保新创造的实体中的60％股权这将管理播放的网站。伊利亚德将保留对剩下的40％的控制。含义：预期游戏的移动资产的货币化，因为运营商已经将其标记为旋转的意图并销售其部分移动基础设施，是伊利亚德也支持的战略计划。随着5G服务的推出，波兰电信是面对需要加快资本密集投资，但成本效益仍处于议程的顶端。这货币化移动资产和网络共享协议都是有效的方法，以确保网络扩展在限制时花费。此外，禁止华为覆盖波兰经营者 - 以及成本上升的前景 - 成本效益基础设施部署将继续为电信的财务状况至关重要。

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