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☆ Cellnex’s Nordic towers sale is a good omen
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +2 min

LONDON, Sept 29 (Reuters Breakingviews) - Marco Patuano is starting with a small but firm step. After years of M&A-fuelled expansion, the new CEO wants to return Cellnex to investment grade and focus on organic growth and efficiency. Cellnex shares shot up 4% Friday, adding 1 billion euros to the group’s market capitalisation. If Patuano can keep finding buyers for his assets, he may soon return his company to investment grade. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Marco Patuano, Patuano, Pierre Briancon, Lisa Jucca, Streisand Neto Organizations: Reuters, X, Thomson Locations: Italian

☆ Italy's Digital Value sees sales above 1 bln euros by 2025-adviser
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +1 min

MILAN, May 10 (Reuters) - Italian digital services provider Digital Value (DGV.MI) expects to drive sales above 1 billion euros ($1.1 billion) by 2025 thanks to rising tech investments by businesses and the public administration, a strategic adviser to the firm said. "It is a target we can achieve," Marco Patuano, a veteran Italian executive who sits on Digital Value's board, told reporters. Such a move could help Digital Value, which specialises in providing digital infrastructure services to big corporate and public administration clients, to play an active role in the sector's consolidation, Patuano said. He said he had received a waiver to keep his board seat at Digital Value and his role as strategic adviser to the company. ($1 = 0.9084 euros)Reporting by Elvira Pollina; editing by Valentina ZaOur Standards: The Thomson Reuters Trust Principles.

☆ Cellnex may flip from buyer to seller with new CEO
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 28 (Reuters Breakingviews) - Cellnex's (CLNX.MC) decision to pick former Telecom Italia (TLIT.MI) CEO Marco Patuano as its new boss increases the odds of seeing the 27 billion euro mobile phone tower operator returning to the M&A negotiating table – as a seller. The appointment ends months of boardroom infighting that culminated with the departure of former Chairman Bertrand Kan on April 4. He is a former CEO of the Benettons' holding company Edizione and previously led Telecom Italia between 2013 and 2016. His track record of carving out the former monopoly's mobile tower business INWIT may be significant. But while tackling the company's turnaround, Patuano may also be lured into takeover negotiations with heavyweight investors as industry consolidation is underway.

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