Linklaters is one of three firms to have picked up roles on Spanish telecoms infrastructure company Cellnex's plans to raise €4 billion through an equity capital raising.

According to financial market data company Refinitiv, the proposed raising would be the largest in Europe since June 2018.

According to a spokesperson for Cellnex, Linklaters, Davis Polk & Wardwell and Spanish heavyweight firm Uría Menéndez are advising the Barcelona-headquartered mobile phone tower operator on its plans to build its capital war-chest.

The company aims to fund a string of European M&A acquisitions worth "up to €11 billion", via the raise, Cellnex said in a statement.

Cellnex operates in eight countries including Spain, Italy, the Netherlands, France, Switzerland, the U.K., Ireland and Portugal.

Linklaters is advising the banks on the raising, with a team headed by the firm's Madrid managing partner, Iñigo Berrícano, and Madrid capital markets partner Federico Briano, who also advised on capital raisings for Cellnex in March and October of last year.

Uría Menéndez Alfonso Ventoso is advising Cellnex on the raise, according to a Uría  spokesperson.

Capital markets partners across the globe have worked on a slew of capital raisings in recent months as businesses have looked to shore up their balance sheets in the midst of the coronavirus crisis.

In May, Clifford Chance and Freshfields Bruckhaus Deringer took roles for struggling FTSE 100 food services company Compass Group's £2 billion COVID-related capital raising in what is the largest capital raising by a U.K.-listed company in the past 12 months.

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