Abertis' 29.9% stake in Cellnex will be sold to Edizione in absence of higher offer - report (translated)
17 APR 2018
Cellnex Telecom’s [BME:CLNX] 29.99% stake held by Abertis [BME:ABE], will be sold Edizione Holding, vehicle of the Benetton family, Expansion reported without citing any sources. The deadline for competing offers ended on Monday 16 April.
Atlantia [BIT:ATL] had granted a right of purchase to Edizione Holding at a price of EUR 21.50 per share, totaling EUR 1.489bn. The deal was pending whether a third party would submit a better offer, but given that no higher bid was made, Edizione will execute the agreement, the Spanish-language paper said.
Abertis is currently Cellnex's main investor with a 34% stake. Once Atlantia, ACS [BME:ACS] and Hochtief [FRA:HOT] acquire Abertis, Atlantia will acquire the 34% of Cellnex from Abertis, and sell 29.99% to Edizione, which is Atlantia’s main shareholder with a 30% stake.