Deutsche Telekom wants to sell the majority of its radio tower division to two North American investors.
The Boone-based group announced that it will sell 51 percent of its former business to Brookfield Asset Management of Canada and Digital Bridge of the USA. Telekom wants to keep 49 percent. As part of the deal, Funkturm’s business is reported to be worth €17.5 billion excluding debt and cash. There are about 40,000 mobile sites in Germany and Austria. Telekom remains on board as a tenant – so there will also be purple antennas at sites in the future.
The branch with about 800 employees had an annual turnover of 1.1 billion euros, and 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 income. If the authorities give the go-ahead, 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 has now taken. The majority of Telefónica Deutschland’s radio towers belong to the American company American Tower, and a small portion is still owned by O2. Vodafone floated its subsidiary Vantage Towers into the radio tower last year and took in cash. Vodafone still has the word as the majority shareholder, which holds about 82 percent of the capital.
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