Deutsche Telekom finalizes sale of radio tower division

Working on a radio tower in Bonn

Deutsche Telekom is looking for a buyer for its radio tower division.

(Photo: Ulrich Baumgarten/Getty Images)

Frankfurt, Berlin Deutsche Telekom’s radio tower business is attracting keen interest from competitors and financial investors. According to financial circles, Europe’s market leader Cellnex from Spain, Vodafone with the infrastructure subsidiary Vantage Towers and American Tower from the USA have now submitted initial offers in the race for the subsidiary Deutsche Funkturm.

Infrastructure investors have also bid, including EQT and a consortium of KKR and GIP, several people familiar with the matter said. Stonepeak and Vantage shareholder Digital Colony had also expressed interest, but it was unclear whether they would continue to be involved. Deutsche Telekom and the bidders declined to comment.

Final bids are expected in May, and Telekom wants to have decided on a partner by June, according to financial circles. Accordingly, Telekom wants to give up a majority, but remain involved with at least 25 percent.

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