Two SWFs and Benetton Family to Hold Cellnex Shares Separately

Posted on 05/26/2020

ConnecT SpA is a special purpose vehicle that held a 29.9% stake in Cellnex, a Spanish mobile phone towers operator. The three owners of ConnecT SpA dissolved the entity and be June 2020, Cellnex will have the shareholders own the shares directly. Italy’s Benetton family. through its financial holding firm Sintonia SpA, will hold 16.45% in Cellnex. The Abu Dhabi Investment Authority (ADIA) and Singapore’s GIC Private Limited will each hold 6.73% ownership of Cellnex.

In 2015, Cellnex jetted from Spanish infrastructure operator Abertis. Since then, Cellnex has purchased tens of thousands of phone towers across Europe.

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