Cellnex has formalized its interest in buying a stake in the company that operates the telecommunications infrastructures. German Telecom in Germany and Austria. This was confirmed by the company itself with a related fact sent to the company on Monday. National Exchange Commission (CNMV), where the firm discloses that the process is in the working phase and as a result, the terms and conditions of a potential operation remain to be determined.
The company had already advanced at the first quarter results conference that this acquisition could be structured through an investment vehicle in which another investment partner participated. And indeed, he would negotiate with the Cellnex mutual fund, as reported by Bloomberg. brookfield make a joint offer.
If the operation is successful, the Spanish company will enter the last major market in Europe where it has not been. It also currently operates towers with Deutsche Telekom in Germany. Switzerland and the Netherlands.
elements in favor
It is precisely the absence of a footprint in the country that facilitates the approval of the proposal against possible industrial competitors such as: Watchtower (which brings together Vodafone sites) or American TowerThe one who bought the Telefónica towers in Germany. Likewise, the company has €9,000 million to undertake operations that, with Brookfield’s financial backing, would eliminate the need to resort to a capital increase.
According to information received from Brookfield, the US firm will not be closed to continue the operation alone and to acquire a minority stake.
If the joint proposal is approved, it will be the second major operation Brookfield has negotiated after testing the possibility of a Public Procurement Offer (OPA) with Spain. DHW and Singapore GIP sovereign wealth fund with Atlantic. This operation did not finally bear fruit as the takeover bid was finally announced by the Italian motorway company’s main shareholders, Benetton and BlackRock.
Source: Informacion
Calvin Turley is an author at “Social Bites”. He is a trendsetter who writes about the latest fashion and entertainment news. With a keen eye for style and a deep understanding of the entertainment industry, Calvin provides engaging and informative articles that keep his readers up-to-date on the latest fashion trends and entertainment happenings.