Cellnex Shares Rise After Report of Abandoning Deutsche Telekom Towers Bid
12 Luglio 2022 - 6:02PM
Dow Jones News
By Ed Frankl
Shares in Spain's Cellnex Telecom SA rose on Tuesday after a
report that it had dropped out of bidding for Deutsche Telekom AG's
towers business.
Shares in Cellnex were up 5.2% to EUR41.18 at 1510 GMT.
The German telco company is in talks to sell a majority stake in
the towers business worth around 18 billion euros ($18.08 billion)
to a consortium made up of KKR & Co., Stonepeak Infrastructure
Partners LP and Global Infrastructure Partners LLC, financial daily
Handelsblatt reported late Monday, citing unnamed sources.
Cellnex had offered Deutsche Telekom a stake in itself, but the
KKR-led offer was said to be financially superior to Cellnex's,
according to Handelsblatt.
Write to Ed Frankl at edward.frankl@dowjones.com
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(END) Dow Jones Newswires
July 12, 2022 11:47 ET (15:47 GMT)
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