Infrastructure2025-09-17T12:00:19+00:00

Infrastructure

We assist operators, investors, and policy makers in understanding the value of towers, fibre and other passive infrastructure.

As the industry continues to optimise the financial efficiency of its network assets, we assist our clients in understanding the value of towers, fibre and other passive infrastructure, as well as the pros and cons of monetising or sharing passive and active components within shared networks.

We provide support on both the buy and sell side of tower divestments, as well as advising operators on the benefits of passive and active network sharing. For tower transactions, we provide business cases together with commercial and technical due diligence. For network sharing, operators often jointly appoint us as a ‘clean team’ to build a business case without sharing data.

We also consider the policy issues raised by infrastructure sharing, applying our understanding of the pros and cons of InfraCo models and inter-operator network sharing from the perspectives of competition, consumer benefits and environmental benefits.

Our infrastructure services

Tower portfolio due diligence

We use our network modelling expertise, combined with detailed geographical analysis, to build comprehensive forecasts of the lease-up potential of sites.

Evaluation of business opportunities

We provide strategic assessments of opportunities for diversification, including small cells, private networks, data centres and other services.

Regulation of digital infrastructure

We help policy makers regulate the use of towers, networks and spectrum while retaining incentives for infrastructure deployment and competition.

Commercial due diligence

We review entities’ revenue, cost projections, and perform an in-depth market assessment, to identify any ‘red flags’ which are then investigated in detail.

Technical due diligence

We review the operational performance of networks and the age and quality of equipment used on networks, to better inform investment and strategic decision making.

Our project experience

Buy-side due diligence on tower portfolios

We undertook commercial due diligences on various tower portfolios in Saudi Arabia and Kuwait.

Vendor due diligence for Salt’s towers

Aetha supported Salt with the successful sale of its tower assets in Switzerland to Cellnex.

FTTH due diligence in Scandinavia

Aetha undertook due diligence of Altifiber’s operations ahead of investment by KC Impact.

Due diligence of mobile and fixed operator

Aetha undertook a due diligence review of 2degrees’ operations ahead of its acquisition by Alignvest.

Relevant articles and reports

Our experts

Andrew Wright
Andrew WrightPartner
Lee Sanders
Lee SandersManaging Partner
Amit Nagpal
Amit NagpalPartner
Marc Eschenberg
Marc EschenbergPartner
Graham Johnson
Graham JohnsonAssociate Partner
Jonathan Wall
Jonathan WallPrincipal
Razvan Todoran
Razvan TodoranManager
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