Italy's Benettons tap GIC among bidders for Cellnex holding vehicle: sources

(June 14): Italy’s Benetton family is in talks with long-term investors including Singapore’s GIC to sell up to 30% in a new holding entity that will handle its stake in Spanish telecom masts group Cellnex, four sources familiar with the deal told Reuters.

The Benettons agreed in March to buy 29.9% of Cellnex as part of a deal to purchase toll-road group Abertis in tandem with Spanish builder ACS.

Cellnex, which has a market value of 5.1 billion euros ($8 billion), ranks as Europe’s biggest independent towers company and leases wireless networks to customers including Telefonica in Spain, Wind and Iliad in Italy, Bouygues in France and Sunrise in Switzerland.

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