TCI requests Cellnex board changes

TCI Fund Management notified Cellnex that it intended to propose changes to the company’s board. The manager expressly acted for TCI Luxembourg S.a.r.l. and CIFF Capital UK LP, which together held more than 3% of Cellnex’s share capital at the time. TCI said it intended to propose removing Bertrand Kan, Peter Shore and Alexandra Reich, and appointing Jonathan Amouyal, potentially alongside other directors. It criticized the process to replace outgoing chief executive Tobias Martinez Gimeno and requested information about submitting annual meeting resolutions. The letter expressed intended shareholder actions and dissatisfaction with governance, not completed appointments or ownership of those shares by the manager itself.