Deutsche Telekom intends to sell more than half of its radio tower division to two companies from Canada and the USA. If the authorities give the green light, the sale could take place at the end of this year.
Deutsche Telekom wants to sell the majority of its radio tower division to two investors from North America.
The Bonn-based group announced that it would sell 51 percent of its previous business to Brookfield Asset Management from Canada and Digital Bridge from the USA. Telekom wants to keep 49 percent. As part of the transaction, the Funkturm business is reportedly valued at €17.5 billion excluding debt and cash. It’s about 40,000 cell phone sites in Germany and Austria. Telekom remains on board as a tenant – so there will also be magenta antennas at the locations in the future.
The branch with around 800 employees recently had an annual turnover of 1.1 billion euros, the operating result (Ebitda AL) was 640 million euros. According to the information, the financial debt of Deutsche Telekom will decrease by 10.7 billion euros with the income. If the authorities give the green light, the sale could be completed by the end of this year.
The other two German mobile network operators have already taken the step that Telekom is now taking. The majority of Telefónica Deutschland’s radio towers belong to the US company American Tower, only a small part is still owned by O2. Vodafone took its radio tower subsidiary Vantage Towers public last year and cashed in. Vodafone still has the say as the majority shareholder, which owns around 82 percent of the share capital.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
