Davis Polk advised Cellnex Telecom, S.A. as to U.S. law in connection with its offering of 66,989,813 new ordinary shares pursuant to a public rights offering in Spain and private placements to institutional investors outside Spain, including in the United States. The offering raised gross proceeds of approximately €1.2 billion. Cellnex intends to use the net proceeds of the offering primarily to expand its existing portfolio of infrastructures in a way consistent with Cellnex’s current strategy of growth through acquisitions.

Cellnex is Europe’s leading operator of wireless telecommunications and broadcasting infrastructures with a total portfolio of 28,000 sites including forecast roll-outs up to 2022. Cellnex operates in Spain, Italy, Netherlands, France, Switzerland and the United Kingdom. Cellnex’s business is structured in four major areas: telecommunications infrastructure services, audiovisual broadcasting networks, security and emergency service networks and solutions for smart urban infrastructure and services management (smart cities and the “Internet of Things” (IoT)).

The Davis Polk corporate team included partner Michael J. Willisch and associates Paula Querol and Jose Lucena-Rebollo. Counsel Alon Gurfinkel and associate Veronica Davis provided tax advice. Partner Gregory S. Rowland and associate Sijia Cai provided 1940 Act advice. Members of the Davis Polk team are based in the Madrid, London and New York offices.

Copy link to share post