Mubadala Capital, the asset management arm of Abu Dhabi’s sovereign wealth fund, is exploring an acquisition of Clear Channel Outdoor Holdings (CCO), people familiar with the matter told Bloomberg’s Liana Baker and Dinesh Nair. Shares of Clear Channel surged over 30% after the news, while rivals Outfront Media (OUT) and Lamar Advertising (LAMR) were also higher in afternoon trading.
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