On April 17, 2025, further to an appeal lodged by a competitor (Valocîme), the Conseil d’Etat upheld the French Competition Authority (“FCA”) decision[1] approving Phoenix Tower International (“PTI”) as purchaser of the passive mobile infrastructure assets which Cellnex had committed to divest as part of the FCA’s review of its acquisition of Hivory.[2] The Conseil d’Etat approved the FCA’s analysis of the independence of the proposed purchaser as well as the absence of new adverse competitive effects due to the purchaser’s acquisition of the divested assets.




