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.
