Cellnex to launch new share buyback after 9-month core earnings rise 7%
06/11/2025 17:01
BARCELONA, Nov 6 (Reuters) - Spain's Cellnex CLNX.MC said on Thursday it will execute a new share buyback programme worth 200 million euros ($233 million) next year as it posted a 6.9% year-on-year rise in adjusted nine-month core earnings to 2.4 billion euros thanks to growing revenues. Europe's largest mobile phone tower operator - with a market capitalisation of around 19 billion euros - has been seeking to boost its share price, which has fallen 10% year-to-date, amid a strategic shift focused on reducing debt and improving its credit rating. Cellnex said it would pay out 250 million euros to shareholders next January as part of its 500-million-euro dividend policy. The additional 200 million euros in share buybacks are on top of 300 million euros it had already announced. The extra funds are tied to the sale of its data center in France, which it expects to close at the end of 2025 or beginning of 2026, Chief Executive Marco Patuano said in an interview, calling the company's results "very strong". Cellnex said its cumulative cash return to shareholders will amount to around 9% between 2025 and 2026 at its current share price. ($1 = 0.8575 euros) (Reporting by Joan Faus; Editing by David Latona and Jesús Aguado) ((joan.faus@thomsonreuters.com;))