Abertis bidder Atlantia rules out full takeover of Cellnex
Abertis’ [BME:ABE] bidder Atlantia [BIT:ATL] has ruled out a full takeover of the telecom infrastructure company CellnexTelecom [BME:CLNX], La Vanguardia said, citing CEO Giovanni Castellucci in a conference call.
Atlantia has 10 days - ending this Friday, 23 March - to decide whether to acquire all or part of Abertis’ 34% stake in Cellnex. Since a full takeover has been ruled out, Atlantia will take up to 29.9% of Cellnex, lower than the 30% threshold that requires to launch a full takeover offer under Spanish law.
Castellucci told analysts that he would consider taking a significant stake in Cellnex below 30%, the Spanish-language paper noted. He did not rule out looking for partners to join the telco, according to the report.
Link to original source.