Cellnex will hold its shareholders’ meeting on June 1 and with it will close a historic stage, with the farewell of Tobías Martínez, who has been the group’s CEO since the company became listed. His position will be occupied by Marco Patuano; a relay in which the activist investor Chris Hohn would have had a lot to do with, who has established himself in recent months as the company’s largest shareholder.
According to the CNMV data, the investor controls 9.385% of the capital after expanding his position in the tower manager directly by more than seven percentage points since August (which is the last update before this December). Between purchase of titles and execution of derivatives, Chris Hohn would have invested more than 2,200 million dollars to reinforce Cellnex.
This jump, in addition to being key to the reconfiguration of the group’s board, has placed Spain in an unusual position in the rankings of activist investors. Specifically, the investor’s movements have been converted to the national market, which has registered the greatest increases in positions of these investors during the quarter; of 2,398 million dollars. Something that, apparently, has allowed Europe to remain strong in the world rankings.
“Europe appeared the largest increase in participation in MS40, with a quarter-on-quarter increase of 5.4 billion dollars, led to a large extent by the increase in the participation of TCI Fund Management in the Spanish Cellnex Telecom”, they point out from Morrow Sodali. The MS40 report, which was prepared by this ‘proxy solicitor’, follows the evolution of the 40 most relevant activist investors in the world.
Behind Spain, would be the United States, with a quarterly increase of 1,168.81 million dollars, and Canada, with 950 million. In the year as a whole, the increase in exposure to Spain reached 2,472 million, allowing the national economy to become the eighth in the world for activist investment, four places more than its position at the end of 2022.
A weak quarter for this type of strategy
Despite the jump experienced in Spanish ema by the specific movement of Chris Hohn in Cellnex, the quarter has not been especially fertile for investors who follow e. This Type of Strategies As an Investment Model, With Only One Secervo How More Positions were Opened than were Closed: real estate. “The rest either did not suffer changes or were net liquidators, with health registering the greatest drop,” explains Morrow Sodali in his report.
In global terms, the United States continues to be the market to which these investors allocate the greatest wealth, exceeding 140,000 million dollars at the end of the first quarter.