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Investing.com -- Cellnex Telecom (BME:CLNX) SA has initiated the sale of its majority stake in its Swiss business, a deal that could potentially be worth as much as $2.2 billion, according to Bloomberg, citing insiders knowledgeable about the situation.
The telecommunications company is collaborating with JPMorgan Chase & Co. (NYSE:JPM) and Societe Generale (OTC:SCGLY) SA on the potential sale, stated the sources, who requested anonymity due to the private nature of the information. The marketing materials for the sale were distributed last week.
DigitalBridge Group and Phoenix Tower International have already expressed preliminary interest in the asset, the insiders revealed. Several infrastructure investors and industry participants, including EQT AB (ST:EQTAB), SBA Communications Corp (NASDAQ:SBAC)., and Stonepeak Infrastructure Partners, have also received invitations to participate. According to the sources, the first round of bids for the Swiss business is anticipated by early May.
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