Atlantia is going to take an interest in Cellnex

MILAN (Reuters) – The Italian group infrastructure Atlantia announced on Friday that it decided to exercise its option to redeem the price 21,20 € 21.50 per share a part or the whole of the capital of Cellnex, Spanish specialist of antennas telecom currently controlled by Abertis.

Atlantia has got this option in the framework of the agreement last week to acquire Abertis, operator of Spanish motorways, in conjunction with the Spanish group of construction ACS.

The group roman will clarify if he buys 29.9 per cent, or 34% of Cellnex only after the completion of the acquisition of Abertis via Hochtief, controlled by ACS.

The european rules will be applied to Atlantia to submit an offer on the entire share capital of Cellnex if it acquires a participation of at least 30%.

Its managing director said last week that Atlantia did not intend to hand over the entire Cellnex, implying that it does not take more than 29.9 per cent.

Atlantia also said Friday that Edizione, the holding company of the family Benetton controlling the Italian group, was granted an option to sell a share of 29.9% in Cellnex at a price of € 21.50 per share, with dividend attached, for a total of € 1.49 billion.

Sources have told Reuters that participation in Cellnex might end up in the hands of Edizione, the master of which Marco Patuano is familiar with the sector antennas telecoms to have been the managing director of Telecom Italia (MI:TLIT).

(Agnieszka Flak and Francesca Landini; Bertrand Boucey for the French service)