Spanish broadcasting operator Cellnex is reportedly seeking to take over the French infrastructure company TDF – with the acquisition of a 60 per cent stake for around €3 billion.

To make the bid, Cellnex has already approved a capital enlargement of €1.2 billion. The company would control 13,900 sites from TDF if successful, half of them TV towers, strengthening its position in the market where it already has agreements with Bouygues Telecom, managing some 5,000 sites.

With the acquisition, Cellnex aims to consolidate its leadership in Europe where it is currently present in Italy, France, UK, Holland and Switzerland with up to 28,000 sites by 2022.

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