Reuters reports about the launch of fifth-generation mobile services across Europe looks set to trigger a wave of infrastructure deals as telecoms companies seek ways to upgrade their networks without busting their strained capital budgets.

“5G may be the trigger (for deals),” said Tobias Martinez Gimeno, the CEO of Spain’s Cellnex, which already has tower portfolios in France, Spain, Italy and the Netherlands, and is keen to move into new markets like Germany.

For investors, tower operators offer an interesting proposition because their business can be expected to offer predictable revenue growth on the back of rising data volumes.