'Asterion, SBA And Phoenix Circle Cellnex's Irish Unit, Sources Say' - Reuters News
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SBA Communications Corp (SBAC), Phoenix Tower (backed by Blackstone, BX), and Asterion Industrial Partners are competing to acquire Cellnex's Irish unit, which manages nearly 2,000 sites. Advised by Santander and Barclays, Cellnex is expected to receive binding offers next week, valuing the unit at approximately 1 billion euros. This move is part of Cellnex's strategy to reduce debt and exit non-core markets, aiming for an investment grade credit rating by 2024.
February 13, 2024 | 5:44 pm
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Blackstone, through its backing of Phoenix Tower, is involved in the bid for Cellnex's Irish unit, aligning with its investment in telecommunications infrastructure.
Blackstone's involvement, via Phoenix Tower, in the acquisition bid for Cellnex's Irish unit underscores its strategic investment approach towards telecommunications infrastructure. This move is likely to be viewed positively by investors, as it aligns with Blackstone's broader investment strategy and could contribute to growth in its portfolio value.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 70
POSITIVE IMPACT
SBA Communications Corp is in the running to acquire Cellnex's Irish unit, a strategic move that could expand its international footprint.
Acquiring Cellnex's Irish unit would significantly enhance SBA Communications' international portfolio, potentially increasing its market share and revenue in Europe. Given the strategic nature of this acquisition, it is likely to have a positive short-term impact on SBAC's stock price, reflecting investor optimism about growth prospects.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80