BT Says Cellnex Acquisition Spree Threatens U.K. Market (1)

BT Group Plc is raising the alarm over an industrywide sell-off of mobile masts, saying it could hand too much power to aggressive Spanish tower buyer Cellnex Telecom SA.

BT’s intervention marks one of the first public signs of real concern at the growing power of Cellnex, a behemoth with a market value of 39 billion euros ($46 billion) that’s been buying up tens of thousands of masts from carriers that, until now, have been only too willing to cash in on their infrastructure.

British competition authorities are investigating Cellnex’s latest blockbuster deal, the 10 billion-euro acquisition of European ...