Benetton family, sovereign funds break up Cellnex shareholders pact - Reuters:
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).
After the operation, expected to be finalised in June, the Benetton family, through its financial holding firm Sintonia SpA, will own 16.45% in Cellnex, while the Abu Dhabi Investment Authority and Singapore’s sovereign wealth fund GIC will own 6.73% each, according to a filing to the Spanish stock market regulator on Friday.
The three partners jointly held their stake in Cellnex through holding firm ConnecT SpA which will be dissolved, the filing said.
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