Multi-foldable electronic device including antenna

A multi-foldable electronic device, comprising:

• a multi-foldable housing comprises:
• a first housing,
• a second housing,
• a third housing disposed between the first housing and the second housing,
• a first hinge configured to rotatably connect the first housing and the third housing, and
• a second hinge configured to rotatably connect the second housing and the third housing,
• wherein in a folded state of the multi-foldable electronic device, the multi-foldable housing is configured such that the second housing is positioned between the first housing and the third housing;
• a flexible display module comprising a display including a first display area) disposed in the first housing, a third display area extending from the first housing and disposed in the third housing, and a second display area extending from the third display area and disposed in the second housing;
• at least one antenna radiator configured to transmit and/or receive signals of a designated frequency band;
• and
• a metal layer positioned in the second housing and configured to adjust frequency characteristics of the at least one antenna radiator in the folded state of the multi-foldable electronic device,
• wherein in the folded state of the multi-foldable electronic device, the metal layer is positioned between the first display area of the flexible display module and a ground structure comprising a conductive material positioned in the second housing, and is electrically connected to the ground structure.