Cellnex share price gains on Edizione interest - reported rumour
CellnexTelecom’s [BME:CLNX] share price is at a record high - EUR 23.58 - with a 10% rally in the past five days on rumours of a possible counter bid to offer tabled by the Benetton family via its vehicle Edizione, El Confidencial reported.
The deadline for offers for Abertis’ [BME:ABE] 29.99% stake in the Spain-based telecom infrastructure company, ends on Monday 16 April.
Several international funds have analysed the transaction, the Spanish-language report said, citing financial sources. Cellnex management has been contacted about a possible MBO that would rival Benetton’s, who is offering EUR 22.5 per share for the 29.99% stake and has an option to equal a third party’s bid.
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