Spain’s Cellnex explores strategic options, Bloomberg News reports
Cellnex’s logo is displayed, during the GSMA’s 2023 Mobile World Congress (MWC) in Barcelona, Spain March 1, 2023. REUTERS/Nacho Doce
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July 23 : Mobile phone tower group Cellnex is studying strategic options including taking the company private or a merger with a competitor, Bloomberg News reported on Thursday.
Spain-based Cellnex’s market capitalisation has more than halved since its peak of about 40 billion euros ($45.54 billion) in 2021, as investors worried about its debt levels and potential consolidation among its customers.
The company’s shares jumped over 5 per cent after Bloomberg News report.
Cellnex was not immediately available for comment.
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In the past year, Cellnex management held early talks with an investor group backed by DigitalBridge Group Inc and Deutsche Telekom AG about the possibility of a deal, the report said, citing people familiar with the matter.
The consortium was considering the idea of a tie-up that would see Cellnex combine with Deutsche Telekom’s infrastructure affiliate GD Towers but the discussions did not progress past the initial stage, it added.
DigitalBridge Group and Deutsche Telekom could not immediately be reached for comment.
($1 = 0.8784 euros)
Source: Reuters
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