GIC Adds More to Cellnex Ownership Position
Posted on 03/29/2021
Singapore’s GIC Private Limited bought a 2.5% stake in Cellnex from Edizione, the Benetton family’s investment firm. Cellnex is a major European mobile phone towers operator. GIC would raise its stake in Cellnex to 8.07% from a previous 5.57%.
The amount of the deal is estimated at 542 million euros.
Edizione is Cellnex’s largest shareholder with a 13.02% stake.