Tech
National Grid Transco is to buy Crown Castle UK, part of the consortium that runs Freeview.
Crown Castle's UK operations were valued at £1.1bn, and will be merged in with Transco's wholly owned telecoms subsidiary Gridcom. Peter Abery, currently Crown Castle UK, will become CEO of the merged company which will initially trade under the Crown Castle name. The current chief at Gridcom, Steven Marshall, will become Chief Operating Officer with direct responsibility for integrating the two companies.
NGT CEO Roger Urwin said: "Crown Castle UK is a high quality infrastructure business with low risk characteristics. It is a natural extension of our own towers and sites business, Gridcom, and is clearly consistent with National Grid Transco’s core focus on owning, operating and managing networks. Combining Crown Castle UK with Gridcom will, we believe, create value from integration savings and the opportunities presented by growth in the mobile and broadcast infrastructure markets."
Crown Castle's UK operations were valued at £1.1bn, and will be merged in with Transco's wholly owned telecoms subsidiary Gridcom. Peter Abery, currently Crown Castle UK, will become CEO of the merged company which will initially trade under the Crown Castle name. The current chief at Gridcom, Steven Marshall, will become Chief Operating Officer with direct responsibility for integrating the two companies.
NGT CEO Roger Urwin said: "Crown Castle UK is a high quality infrastructure business with low risk characteristics. It is a natural extension of our own towers and sites business, Gridcom, and is clearly consistent with National Grid Transco’s core focus on owning, operating and managing networks. Combining Crown Castle UK with Gridcom will, we believe, create value from integration savings and the opportunities presented by growth in the mobile and broadcast infrastructure markets."
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