Singapore wealth fund buys 2.5% stake in Cellnex from Benetton family

Singapore wealth fund buys 2.5% stake in Cellnex from Benetton family

The Edge Markets - World·2021-03-30 15:11

MADRID (March 29): Singapore wealth fund GIC Pte Ltd has agreed to buy a 2.5% stake in Europe's largest mobile phone tower operator Cellnex from Edizione, the Benetton family's investment firm, Edizione said on Friday evening.

Through the acquistion, worth €542 million (US$638 million), GIC would raise its stake in Cellnex to 8.07% from a previous 5.57%, according to Refinitiv data.

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