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    HomeNewsEuropean towerco bonanza rolls on: Cordiant to pay €352m for Poland’s Emitel

    European towerco bonanza rolls on: Cordiant to pay €352m for Poland’s Emitel

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    Investment firm Cordiant Digital Infrastructure has a war chest of €2 billion to acquire infrastructure in Western Europe and the US

    Emitel operates Poland’s broadcast transmission network, with 521 mobile and broadcast towers, a national fibre network, an IoT network of smart city sensors and distributed antenna system (DAS) sites.

    Its current owner, Alinda Capital Partners, is selling Emitel to investment firm Cordiant Digital Infrastructure reportedly for £352 million, subject to gaining the necessary approvals.

    Fund has big plans

    UK-based Cordiant Digital Infrastructure was launched in the first half of 2021 and is an offshoot of Cordiant Capital which has an established presence in the telecoms.

    It announced its first two investments in May: Cordiant Digital paid £306 million to acquire České Radiokomunikace (CRA), which operates more than 660 telecom towers and a 3,730km fibre network in the Czechia, and a long-distance fibre network in Norway.

    Cordiant Digital’s Chair is Steven Marshall, formerly President of American Tower. In a statement to the London Stock Exchange, the company said it will issue new shares to raise funds to help pay for the Emitel acquisition and that it has “a pipeline of attractive opportunities” worth more than €2 billion in North America and Western Europe in addition to organic expansion.

    Cordiant Digital is also investing US$74 million on New York City-based DataGryd Datacenters.