Goldman innovates to allow Cellnex holder to monetise rights early

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By Sam Kerr
24 Jul 2020

EMEA’s equity capital markets were buzzing on Friday morning after Goldman Sachs placed a 13.2m block of shares in Cellnex, the Spanish telecoms tower company, which allowed the company’s largest shareholder to monetise rights that it intends not to exercise in the issuer's forthcoming €4bn rights issue.

Cellnex is raising cash to help finance further acquisitions in a rights issue which will run until August 8.

The company’s largest shareholder Edizione, the investment company owned by Italy’s Benneton family, has publicly announced that does not intend to exercise its rights in the cash call.

Edizione's ...

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