UAE – Mubasher: The Abu Dhabi Investment Authority (ADIA), Abu Dhabi’s sovereign wealth fund, has increased its stake in Cellnex, a Spanish mobile phone tower operator, to 6.97%.
The deal came after the sovereign wealth funds of Abu Dhabi and Singapore, alongside Italy’s Benetton family, announced they would break the shareholders' pact that allowed controlling 29.9% of the shares of Cellnex, Reuters reported.
Founded in 2015, Cellnex Telecom says it is the main infrastructure operator for wireless telecommunication in Europe.
Meanwhile, ADIA manages a diversified global investment portfolio. It has been investing funds, on behalf of the Government of Abu Dhabi, with a focus on long-term value creation since 1976.