TCI takes the lead in activism in Europe by becoming the largest shareholder of Cellnex

The Children's Investment Fund (TCI), led by British investor Chris Hohn, is at the forefront of activist positions in Europe in the first quarter of 2023, thanks to its increased stake in Spanish company Cellnex Telecom, as explained in this article by the Spanish financial media outlet El Economista. By the end of March, TCI's stake in Spanish Cellnex Telecom exceeded 9%, making the fund the main shareholder of Cellnex.

This move has positioned TCI as the activist fund that increased its presence the most in a listed company throughout Europe in the first quarter of 2023, according to the Morrow Sodali Quarterly Activist Ownership Analysis. Specifically, TCI's stake in the Spanish group grew by US$2.2 billion during that period. This increase is the largest seen in any company in Europe. On a global scale, it is only outperformed by the participation of the same fund in General Electric (US$2.5 billion).  

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