American Tower Corporation (NYSE: AMT) and Brookfield Asset Management Ltd. are considering a takeover bid for Barcelona-based tower company Cellnex Telecom, including taking it off the stock market, Spanish news outlet Okdiario reported last Friday. Cellnex’ stock rose based on the news, while American Tower’s fell.
The report of a possible deal came on the heels of a shake up in management at Cellnex. The tower company appointed Alfonso Álvarez as chief executive of its subsidiary in the United Kingdom, replacing David Crawford, according to Okdiario. Last week, Inside Towers reported that Tobias Martinez resigned as CEO and Director of Cellnex, effective June 1, 2023. Continue Reading |
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