Cellnex swerves Telxius questions as it builds war chest


Source: Echo Grid / Unsplash

Robustly growing tower company with €11bn burning a hole in its pocket. Linked to an investment in Telefónica’s “magnificent” infrastructure division. Cellnex management say keen on operational control over investments.

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“The detail is very good. Better than we get internally.” – GM, Vodafone OpCo