Renta 4 |Vodafone could be waiting to receive offers for its stake in Vantage Tower in which it controls 81%, according to Reuters. Vantage manages 83,000 towers in 10 countries and currently has a market cap of 12.5 billion euros. According to the press, Cellnex and American Tower would be weighing up the idea of presenting an offer for the above-mentioned stake. Valuation: In acquisition transactions of this kind, Cellnex…
Renta 4 | According to Bloomberg, the consortium formed by KKR, GIP and Stonepeak would be tabling a more attractive offer for Deutsche Telekom’s towers than that presented by Cellnex and Brookfield. The possibility that Vodafone, via its affiliate Vantage, and even American Tower, have already withdrawn from the process, also appears to be ruled out. The news report says that Deutsche Telekom’s decision could be revealed before the end…
Bankinter | Cellnex is negotiating an agreement with Brookfield Asset Management to make a joint bid for Deutsche Telekom’s telecommunications towers affiliate. The deal consists of a group of 40.600 towers in Germany and Austria, worth close to 20 billion euros. The process for lodging bids has already started and will extend over the coming weeks. Bankinter analyst team’s opinion: We foresee the news having a neutral impact on the…
Norbolsa | The process for the sale of Deutsche Telekom (DT)’s towers was updated ahead of the possibility that Vantage Towers and AMT are excluded before they lodge their bids. The reason behand the recent news has to do with the significant regulatory challenges which both companies would have to face consolidating the towers in the German market. DT owns approximately 50% of the total of towers in Germany, while…
Renta 4 | 1-. The UK Competition regulator, the CMA, has given the green light to Cellnex’s purchase of 6,000 towers from Hutchinson in the region. The deal is subject to the Spanish firm’s sale of 1,000 sites which overlap geographically with those of Hutchinson. 2-. From what we can glean from the communication, the 1,000 sites which will be subject to being sold off correspond to part of the…
Renta 4 |The five main European telecommunication operators ((Telefónica, Orange, Vodafone, Deutsche Telekom and Telecom Italia) would be trying to establish an alliance which would allow the sharing of the open radio access network (Open RAN). This is an architecture which prioritises the interoperability of infrastructures allowing for the development of more efficient mobile communications. In a report, the operators given five recommendations for this development: these include guaranteeing political…
Cellnex has closed the purchase of 99.99% of Polkomtel Infrastruktura, the Polish telecommunications infrastructure subsidiary of Cyfrowy Polsat. The investment is for €1.6 Bn, which will go with an additional deployment programme of up to 1,500 sites.Cellnex, which with this transaction makes Poland one of its main markets, will invest a further €600 M over the next 10 years in active equipment, mostly for 5G deployment.
T.C. | Cellnex (CLNX) has closed its €7 billion capital increase without difficulties. This is the company’s fourth capital increase in two years. Since February 2019. Cellnex has raised €14.7 billion in capital on the market and is, after the capital increase, the fourth largest company in the Spanish market. The Benettons did not take part in this new capital increase – which was made at a discount of 17% – and have sold their rights, reducing their stake from 13.5% to 8.5%. On the other hand, the sovereign wealth fund of Singapore, which bought 2.5% of the capital from the Benettons, became the largest shareholder with 9.23%.
Renta 4 | Telefónica announced today that it has signed an agreement with American Tower to sell Telxius’ tower business in Europe (Spain, Germany) and LatAm (Brazil, Peru, Chile and Argentina). The price of the deal is 7.7 billion euros, payable in cash. It includes the sale of some 30,722 sites to be carried out in two separate operations. Although American Tower still has little exposure in Europe (some 30,000 towers after the Telxius purchase), it represents the main threat to the leadership position of another Spanish company, Cellnex, with over 103.000 sites
The rumor has been confirmed. Cellnex has announced a capital increase of 4 billion euros, 18.5% of its current market cap, which will put into circulation 101.4 million shares, which means 26.3% of the current shares at an issue price of 39.45 euros. The purpose of the capital hike is to finance the group’s expansion via acquisitions. According to the company’s press release, it is looking at assets worth up to 11 billion euros to invest in within the next 18 months.