Spain's Cellnex to acquire France's Hivory for 5.2 bln euros, plans capital hike of up to 7 bln euros

Spanish mobile phone mast operator Cellnex said on Wednesday it would acquire French telecoms tower company Hivory, with an initial investment of 5.2 billion euros ($6.25 billion), after reaching an agreement with Altice and Starlight Holdco.

Cellnex plans to finance the operation with an up to 7 billion euros capital hike, which will be proposed during its shareholders meeting at the end of March, the company said in a statement to the Spanish stock regulator. ($1 = 0.8315 euros)