Cellnex plummets almost 6% after CK Hutchison hires a hedge for its stake

MADRID, 15 Nov.

Cellnex plummets almost 6% after CK Hutchison hires a hedge for its stake

MADRID, 15 Nov. (EUROPA PRESS) -

Cellnex shares have begun the session by plummeting almost 6% on the stock market after last Monday at the close of the market its new relevant shareholder, CK Hutchison, has contracted a hedge to protect the value of its participation against possible falls with a discount on the quote.

CK Hutchison hired HSBC and JP Morgan to launch the derivative, which consisted of the accelerated placement of 25.6 million shares of the company, which closed at 33.5 euros per title, a discount of more than 7%. regarding the closing of the last session.

Thus, Cellnex shares have started the day at the bottom of the Ibex 35 and at 9:25 a.m. they registered falls of 5.75% to 34.09 euros.

CK Hutchison landed this week in the capital of the Spanish company as part of the operation through which Cellnex acquired its telecommunications towers in Europe. The Asian investor has 4.8% of the firm's capital and a shareholding clause of at least one year.

Cellnex accumulated a rise of almost 20% in the last month after presenting results and finally being left out of the bid for Vantage Towers.

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