hit tracker
Sunday, December 3, 2023
HomeLatest NewsCellnex soars on the stock market due to rumors of an American...

Cellnex soars on the stock market due to rumors of an American Tower and Brookfield takeover bid

Date: December 3, 2023 Time: 01:08:40

Cellnex Telecom’s shares shot up almost 8% in the early stages of this Friday’s session amid rumors of a possible purchase offer from the North American telecommunications giant American Tower and the Brookfield venture capital fund.

Specifically, Cellnex shares have registered a rise of 10%, up to 36.2 euros per share, although they soon began to deflate to less than half due to doubts about this possibility.

The origin of these rumors comes from the digital ‘Okdiario’, which cites sources familiar with the operation and ensures that the American competitor has hired the services of Morgan Stanley to advise it with the takeover bid.

American Tower made the leap to Europe in 2021 with the purchase of telecommunications towers from Telxius, Telefónica and KKR, for 7,700 million euros in a historic operation in the sector.

Precisely, at the beginning of the year the company announced that Tobías Martínez Gimeno will leave his position as CEO of Cellnex as of June 3. Following the resignation of the company’s chief executive, Cellnex’s board of directors has put in place the necessary mechanisms for his succession, although it has not announced his replacement.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

Most Popular

Recent Comments