Competition watchdog clears €971m telecoms infrastructure deal

Legally binding commitments proposed by Phoenix and approved “were substantial in scale and scope”, according to the Competition and Consumer Protection Commission (CCPC).

The acquisition was originally notified in March 2024 to the Competition and Consumer Protection Commission (CCPC) who launched an in-depth investigation into the deal.

Telecoms infrastructure company Phoenix Tower International will be allowed to acquire rival company Cellnex Ireland, subject to legally binding commitments, in what is one of the largest-value mergers ever reviewed by the competition watchdog.

In Ireland, both companies own and manage portfolios of macro passive network infrastructure sites which includes the towers and masts which are critical infrastructure for mobile network operators. Mobile operators fix active network equipment to this infrastructure including their antennae and dishes which are used to connect with users.

The acquisition was originally notified in March 2024 to the Competition and Consumer Protection Commission (CCPC), which launched an in-depth investigation into the deal.

The transaction was valued at €971m, and the legally binding commitments proposed by Phoenix and approved “were substantial in scale and scope”, according to the CCPC.

“Under the commitments given to the CCPC, Phoenix agreed to divest sites in all areas where the merger would reduce competitors from three to two or two to one, as well as certain new sites under development or which are identified to be developed in the coming years,” the Commission said.

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The CCPC said its competition concerns were focused on the risk of higher prices and/or lower service quality for mobile operators and, ultimately, consumers.

In October 2025, London-based infrastructure manager Ancala acquired the divestment package of 300 sites which was approved by the CCPC. Ancala, which operates the sites as Torloc Towers, will also receive the right of first refusal on contracts for any new sites that mobile phone operators have with Phoenix.

During 2024, Cellnex operated 1,693 sites across the country while Phoenix operated 969. A combined operation between the two — without the divestment to Ancala — would have seen the combined entity control between 45% and 50% of all sites across the country.

To ensure compliance with these commitments, an independent monitoring trustee, with the power to ensure compliance with the commitments, has been appointed.

Over the last five years, the main mobile phone operators have divested from their tower assets, which has become common practice across Europe. The key rationale for this divestment has been to release capital.

Phoenix entered into the market taking over infrastructure previously owned by Eircom, while Cellnex Telecom acquired (Three owner) CK Hutchison Networks’ infrastructure in 2021. Vodafone sold off its assets to Vantage Towers Limited in 2020.