Norbolsa | Cellnex is in talks to sell its 72% stake in its Swiss subsidiary to the investment arm of Manulife (a Canadian insurer), having put the sale on hold last year due to offers being too low. The Swiss unit is valued at around €2 billion, although negotiations are still ongoing and there is no guarantee that a deal will be finalised. This potential move forms part of Cellnex’s strategy to reduce debt following years of expansion, whilst Manulife seeks to strengthen its presence in Europe.
Cellnex in talks again to sell 72% stake in Swiss unit, valued at around €2 billion
