Deutsche Telekom announces 17.5 billion euro sale of tower business
2022.07.14 08:32
FILE PHOTO: Brochures with the logo of Deutsche Telekom AG are pictured at the shop in the headquarters of German telecommunications giant in Bonn, Germany, February 19, 2019. REUTERS/Wolfgang Rattay
BERLIN (Reuters) – Deutsche Telekom (OTC:DTEGY) DTEGn.DE announced on Thursday that it would sell 51% of its tower business to a consortium of Canada’s Brookfield BAMa.TO and private equity group DigitalBridge Group Inc DBRG.N after they placed a surprise bid.
The stake in GD Towers comes at an enterprise value of 17.5 billion euros ($17.53 billion), Telekom said in a statement.
The transaction, which is expected to close towards the end of this year, would reduce Deutsche Telekom’s financial debt by 10.7 billion euros, the company added.
($1 = 0.9981 euros)
