Cellnex Agrees to Sell Nordics Stake for €730 Million

Private equity firm Stonepeak will acquire a 49% holding in Cellnex's Danish and Swedish operations, with a €558 million upfront payment

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The transaction is set to close by the first quarter of the upcoming year.

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Cellnex's shares surged 4% to €33.70 in Madrid, reaching their highest point since July

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Patuano had highlighted Denmark and Sweden as ripe markets for consolidation and emphasized the importance of partnering with entities with "deep pockets."

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Cellnex initially entered these markets in 2021 through the acquisition of CK Hutchison Holdings Ltd.’s European towers.

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Analyst James Ratzer from New Street Research noted that Cellnex secured an advantageous deal

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Cellnex had enjoyed favorable borrowing conditions and strong investor interest since its 2015 IPO

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