Spain’s telecom tower company Cellnex Telecom is in talks to sell its Swiss business to Manulife Financial Corporation, according to sources familiar with the matter.
The Swiss unit is partly owned by Cellnex (72%), while the remaining stake is held by Swiss Life Asset Managers. The potential buyer is Manulife Investment Management, which has been working with advisers on a possible deal.
Sources said talks are ongoing, but no final agreement has been reached and the deal could still fall through.
Cellnex had tried to sell the Swiss business last year, but those efforts were stopped after bids came in lower than expected. The unit is estimated to be worth around €2 billion.
The company has been under pressure to reduce debt after years of rapid expansion across Europe. Higher interest rates have also forced telecom infrastructure firms to sell assets and focus more on financial stability.
Manulife’s investment arm has been expanding its presence in Europe. Last year, it joined a deal to buy a 50% stake in telecom infrastructure assets in Sweden, marking a bigger push into the European market.
Both Cellnex and Manulife declined to comment on the talks. Swiss Life also did not respond.
The discussions are still at an early stage, and there is no certainty the deal will happen.
0 Comments