According to Europe’s largest neutral host tower operator, Cellnex, the European cell towers market is “pretty much closed” because of the current wave of inflation. CEO Tobias Martinez Gimeno told the Financial Times: “M&A activity is over. Material, inorganic growth for the next 24 months is over.” This strengthens the statements that Cellnex has made in recent months, that after a spree of acquisitions that have greatly enlarged its European business over the past few years, it will now dial down on M&A and focus on organic growth. That was seen as being partly a response to higher regulatory scrutiny of acquisitions as Cellnex gains market share in the region and could potentially be seen as dominant in some markets.…