Mobile phone tower group Cellnex is studying strategic options, including taking the company private or a merger with a competitor, according to a report by Bloomberg News.
Spain-based Cellnex’s market capitalization has more than halved since its peak of about 40 billion euros ($45.54 billion) in 2021, as investors worried about its debt levels and potential consolidation among its customers.
The company’s shares jumped over 5% after the Bloomberg News report. Cellnex was not immediately available for comment.
In the past year, Cellnex management held early talks with an investor group backed by DigitalBridge Group Inc and Deutsche Telekom AG about the possibility of a deal, the report said, citing people familiar with the matter.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
