Linklaters advised National Grid on the £2.5bn sale of its mobile mast business to Australian bank Macquarie – the owner of Britain’s second largest mast network Arqiva.
The Linklaters team was led by corporate partner and co-head of Linklaters’ media & entertainment sector Roger Barron.
Barron’s team worked alongside the National Grid’s in-house team led by Mark Noble. Partner Brendan Moylan from Clifford Chance advised Macquarie.
The proceeds, more than £2bn, will be used to buy back £1.8bn of the National Grid’s shares.
National Grid had announced plans to demerge the wireless business last November. The wireless company currently owns 5,000 mobile phone masts and 750 transmission towers for broadcasting television and radio channels in the UK.
It also holds licenses for two digital television multiplexes utilised by broadcasters in the UK.