The Benetton family, through its holding company Edizione, has announced that it has increased its stake in the Spanish telecommunications tower company Cellnex (CLNX) from 8.205% to 9.903%, according to Expansión newspaper. In this way, the Italian family, which was the reference shareholder of CLNX a few years ago, once again becomes the largest shareholder of the group, overtaking the activist fund TCI, which had raised its stake in recent months to increase its influence and unblock the succession process of the former CEO, Tobias Martinez.
In a statement released in Italy, Edizione said the increased stake is assessed as a stable, industrial and long-term holding. The company also points out that it is a sign of confidence in the project and in the management team, which since the beginning of June has been led by Marco Patuano, an Italian executive who was CEO of Telecom Italia and even CEO of Edizione Holding itself.
