American Tower Corporation (NYSE:AMT) together with Brookfield Corporation (TSX:BN) is considering launching a takeover bid for Cellnex Telecom, S.A. (BME:CLNX), reported OK Diario, citing sources familiar with the process. The investors have already hired Morgan Stanley to advise on the operation, which would aim to delist the ninth largest company in the Ibex-35. The acquisition would allow American Tower to significantly strengthen its presence in Europe.

The newspaper says that Cellnex is being advised by Goldman Sachs and that its main shareholders are receptive to the proposal, provided it represents a good premium. Among the shareholders open to selling their shares are the Benetton family, which owns 8.54% of Cellnex, as well as the GIP fund (7%) and Criteria, holding of La Caixa, which controls 4.8% of the Spanish company's capital.