Cellnex Telecom SA

Spanish mobile phone mast operator Cellnex unveiled its biggest purchase to date on Thursday with a deal to buy 24,600 telecom towers across Europe from Hong Kong's CK Hutchison for 10 billion euros ($11.81 billion).

Cellnex <CLNX.MC> said on Wednesday it was in advanced talks with CK Hutchison <0001.HK> on potential deals but that details were still under discussion after the Hong Kong conglomerate said they were nearing transactions worth 10 billion euros ($11.67 billion).

Spanish cellphone tower operator Cellnex <CLNX.MC> is close to buy Metrocall, the company providing mobile telecom services in the Madrid metro and is controlled by Indra <IDR.MC>, Expansion newspaper reported, citing market sources.

Edizione, the Benetton family's investment firm, will cut its stake in Europe's largest mobile phone towers operator Cellnex <CLNX.MC> to 13% as part of a 4 billion euro ($4.6 billion) capital increase announced this week.

Cellnex <CLNX.MC> said on Thursday existing shareholders representing 18.77% of the company's capital committed to take part in a 4 billion euro ($4.6 billion) capital increase in proportion to their holdings.

Cellnex plans to raise up to 4 billion euros ($4.63 billion) in new share capital to finance an expansion of its infrastructure portfolio, Europe's largest mobile phone towers operator said on Wednesday.

Spain's Cellnex <CLNX.MC> on Monday raised its 2020 guidance after completing several investments and reported an increase in first-half core earnings, but said it expected net losses in the coming quarters.

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Abu Dhabi's sovereign wealth fund raised its stake in Spanish mobile phone tower operator Cellnex after it had broken a shareholders pact with the Benetton family and Singapore's sovereign fund last month.

Italy's Benetton family and sovereign wealth funds from Singapore and Abu Dhabi have broken up a shareholders pact that controlled 29.9% of Spanish mobile phone towers operator Cellnex <CLNX.MC>.

Cellnex <CLNX.MC>, Europe's largest mobile phone towers operator, posted a 64% rise in first-quarter core earnings on Thursday, slightly beating forecasts, and kept its positive 2020 outlook despite the coronavirus pandemic.

Spain's Cellnex <CLNX.MC> said on Tuesday it had agreed to acquire Portuguese mobile operator NOS's telecom-tower business for an initial sum of 375 million euros ($409.69 million).

* Shares trade down 1% after initial 5% tumble (Recasts with CEO comments to Reuters, new details, share price)

Cellnex, Europe's largest mobile phone towers operator, reported Wednesday its net loss narrowed in 2019 from the year before and added its core earnings were in-line with its target.

Spain's Cellnex Telecom SA priced a 450 million euro ($499.64 million), seven-year bond issue on Thursday.

The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Thursday:

Cellnex Telecom SA <CLNX.MC> said on Thursday that it has agreed to buy Portuguese telecommunication tower operator OMTEL for around 800 million euros ($894.24 million) from Altice Europe NV <ATCA.AS> and funds controlled by Morgan Stanley Infrastructure Partners.

Spain's Cellnex Telecom SA said on Thursday that it has agreed to buy Portuguese telecommunication tower operator OMTEL for around 800 million euros ($894.24 million).

Spain's Cellnex raised its guidance for 2019 core earnings on Thursday and reported a smaller net loss for the first nine months of the year.