Davis Polk advised Cellnex Telecom, S.A. and Abertis Infrastructuras, S.A. on the Rule 144A/Regulation S initial public offering by Abertis Infrastructuras, S.A. of 139,009,944 of Cellnex’s ordinary shares. An additional 13,900,994 shares may be purchased pursuant to the over-allotment option provided for by the underwriting agreement. The offering raised gross proceeds of €1.9 billion. Cellnex’s shares are listed on the Spanish Stock Exchanges.   

Cellnex is the leading independent operator of wireless telecom and broadcasting infrastructure in Europe, ranking number one in Spain in its Broadcast Infrastructure activity and number one among independent operators in both Spain and Italy in its Telecom Site Rental activity. Cellnex owns and operates a nationwide portfolio of 7,472 sites in Spain and 7,698 sites in Italy. Cellnex’s primary businesses are leasing antenna space on multitenant communications sites to mobile network operators, radio and TV broadcast companies, government agencies and municipalities and tenants in a number of other industries, distributing and transmitting digital television and radio signals and providing complementary services such as connectivity and operation and maintenance services.

The Davis Polk capital markets team included partner Michael J. Willisch and associate Sonia Rodríguez. The tax team included partner John D. Paton and associate Lena X. Qiu. Associate Elina Teboul provided 1940 Act advice. Members of the Davis Polk team are based in the Madrid, London and New York offices. 

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