Deal volume in the European media and telecom sector declined 24.3% year over year to 84 transactions in June compared to 111 deals struck in the same period a year ago, according to data from S&P Global Market Intelligence.
The aggregate transaction value during the month under review fell to $1.25 billion from $7.18 billion in June 2022.
Cellnex Telecom SA's acquisition of the remaining 30% stake in On Tower Poland Sp. z o.o. from Iliad Purple SAS for $563.4 million was the biggest deal of the month. Following the transaction's completion on June 30, Cellnex fully controls the Polish towers operator.
Lazard Asesores Financieros and Lazard Frères were financial advisers to Cellnex and Iliad on the deal, respectively, while Clifford Chance was legal adviser to Cellnex.
The second-highest deal of the month involved sports club operator Forty Niners Football Co. LLC's agreement to buy UK-based soccer club Leeds United Football Club Ltd. from Aser Ventures for $304.9 million. National Basketball Association players Larry Nance Jr. and T.J. McConnell joined the deal as minority investors.
The top two transactions of the month were also among the top 10 M&A deals year-to-date.
Meanwhile, Netherlands-based operator Koninklijke KPN NV's bid to acquire the Dutch activities of Youfone Nederland BV, a telecom service provider and mobile virtual network operator, for $219.0 million was the third-largest transaction of the month. The deal is subject to customary closing conditions, including clearance from antitrust regulators.
– Check out the European media and telecommunications sector's dealmaking activity in May.
– Use our Transactions Statistics page to run a custom screen of M&A by industry or geography.
Hungarian investment company Corvinus Nemzetközi Befektetési Zrt. and IT company 4iG Nyrt.'s pending transaction to buy a minority stake in Yettel Magyarország Zrt. from Vodafone Group PLC for $1.81 billion remains the largest transaction in the European media and telecom space so far this year. The deal was announced in March.
Four out of the top 10 M&A deals in June were from the movies and entertainment subsector. Integrated telecommunication services, interactive media and services, alternative carriers and interactive home entertainment also contributed to dealmaking.
