Abertis is to sell the recently-rebranded Cellnex (the former Abertis Telecom) with the forthcoming IPO with 55 per cent of the company on offer.

The value of the company is estimated to be between €2.3 billion and €2.8 billion, with Abertis hoping to raise up to €1.7 billion for the sale to institutional investors only.

Cellnex distributes digital TV signals for third parties operating as a monopoly in the transmissions of DTT signals in the Spanish TV market. The company recently acquired thousands of cellphone towers in Spain and Italy through which it also offers services to phone operators.

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