Cellnex

European economy 2nd September 2024

Cellnex buys six new NOS telecom tower sites in Portugal, bringing total to 6,400

Norbolsa | The company has strengthened its presence in Portugal by acquiring six new telecommunications tower sites from NOS, extending its partnership initiated in 2020. Through its subsidiary On Tower Portugal, Cellnex already manages some 6,400 sites across the country. The transaction is pending approval by the Portuguese Competition Authority. Under the agreement, Cellnex and NOS have signed an initial 15-year contract, extendable to successive additional 15-year periods, under which…

Companies, Ibex 12th August 2024

Cellnex continues with divestment plan of non-strategic assets and sells business in Austria for €803 million

Bankinter | Cellnex (CLNX) has reached an agreement to sell 100% of its business in Austria, its subsidiary On Tower Austria, for €803 million. Part of the payment (€272 million) will be deferred in December 2028. Opinion of the Bankinter analysis team; Good news for Cellnex. This divestment is part of the process of selling non-strategic assets and will allow Cellnex to continue reducing debt, with the objective of reaching…

Spanish economy 26th April 2024

Cellnex slightly beats expectations with Ebitda of €778m and maintains guidance for rest of year

Bankinter : Cellnex (CLNX) 1Q2024 results slightly beat expectations. Revenues are up 7% to €946M (versus €947M estimated); Adjusted EBITDA is up 7% to €778M (versus €777M estimated) and Recurrent cash flow is up14% to €384M (versus €375M estimated). Maintains guidance for 2024: Revenues of €3,850-3,950m, EBITDA of €3,150-3250m and cash flow of €1,650-1750m. Assessment by Bankinter’s research team: Slightly better-than-estimated results in cash flow, although guidance remains unchanged for…

Spanish economy 9th November 2023

Cellnex enters into an absolute return swap agreement for €150 million

Link Securities | In a Significant Event it was reported that Cellnex Finance Company, S.A. (Unipersonal), a wholly-owned subsidiary of Cellnex (CLNX), has entered into a total return equity swap contract with a global financial institution, guaranteed by the company, in relation to Cellnex shares for a notional amount of €150,000,000 which, at current market prices, represents approximately 5,000,000 Cellnex shares, or approximately 0.7% of its share capital, maturing within…

European economy 4th July 2023

Cellnex acquires 100% of OnTower Poland after buying Illiad’s 30% stake in Polish company for €510mn

Santander Corporate & Investment | Cellnex (BB+ p, BBB- e) has announced the acquisition from Iliad of its 30% stake in OnTower Poland, the Polish telecommunications infrastructure company controlled by Cellnex. The transaction costs around €510mn and brings Cellnex’s stake in OnTower Poland to 100%. According to the press release, OnTower Poland currently operates a total of 8,500 sites in Poland, plans to deploy up to 3,400 new sites by…

Spanish economy 25th June 2023

Benetton family now Cellnex group’s largest shareholder again after increasing stake to 9.903%

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…

Companies, Relevant News Item 4th June 2023

New Chair says Cellnex not giving up on growth through acquisitions, but not in short term

Banc Sabadell | In an interview granted by Anne Bouverout (current Chair of Cellnex (CLNX), after the departure of Bertrand Kan as a result of the intervention of TCI) the executive has issued the following messages concerning the Company: ▪ She considers that Cellnex is not vulnerable to a takeover bid and that if there has ever been such a perception it was the result of the uncertainty derived from…

Companies, Spanish economy 19th April 2023

Cellnex: green light for the appointment of a director by TCI

Banc Sabadell : The board of Cellnex (CLNX) on 26 April will proceed to appoint a director representing TCI (9.4% of CLNX), probably Jonathan Amouya (TCI partner) as requested by the fund in its letter. It is also expected that an additional independent director will be appointed to restore the number of directors to 11, following the departure of Bertrand Kan and Peter Shore. After the incorporation of the proprietary…

Spanish economy 5th April 2023

Bertrand Boudewijn and Leonard Peter Shore resign as independent directors of Cellnex citing “irreconcilable differences”

In a Significant Event communicated to the CNMV, the Board of Directors of Cellnex (CLNX) informed that it has received the resignations of Mr Bertrand Boudewijn Kan and Mr Leonard Peter Shore, in their capacity as independent directors, citing “irreconcilable differences with the Board in relation to the management, governance and succession process of the Company”. In their announcement, Mr Bertrand Boudewijn Kan and Mr Leonard Peter Shore stated that…

Companies, Spanish economy 30th March 2023

Cellnex under pressure from TCI fund for Bertrand Kan to leave board

Link Securities | TCI, the British fund that has become Cellnex’s main shareholder with 9% of the company, is increasing pressure on Bertrand Kan, who on Monday was relieved of the presidency of the company, to leave the company’s Board of Directors immediately. The fund believes that Cellnex must urgently focus on electing a new CEO, and among the possible candidates, the newspaper Expansión highlights in today’s edition that Marco…

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