The Abu Dhabi Investment Authority (Abu Dhabi's sovereign wealth fund) has increased its stake in Spain’s Celenex, the operator of mobile telecom towers, after a shareholders ’agreement with the Benetton family and a Singaporean sovereign fund was broken month. The past.
According to Reuters, the Spanish Stock Exchange Regulatory Authority said in a notice on Tuesday that the Abu Dhabi Investment Authority raised its stake in Celex to 6.97 percent on June 10. The agency said last month that its stake in the company was 6.73 percent.
The Italian Benetton family and the two sovereign funds announced last month that they had broken a shareholders ’agreement to control a 29.9 percent stake in Cilenex.
The three investors said that after the breakdown of the partnership, the Benetton family will have a share of 16.45 percent in Selenex, while the share of each of the two funds will be 6.73 percent.
The Benetton family or the Singapore Fund have not announced a change in their stake.
Cilanex, which broke away from Spanish infrastructure company APERTS in 2015, expanded rapidly and has a market value of about 20 billion euros ($ 22.56 billion), which makes it the eighth largest Company on the Spanish leading stock index, IBEX 35.
The company has purchased tens of thousands of phone towers across Europe over the past few years and currently controls more than 50 thousand sites. It is believed to be a major player in potential mergers in the European telecom infrastructure market.
