The defeat is bitter for Cellnex. A takeover of the Telekom towers would have secured the group’s leading position in Europe.
(Photo: imago images/Jürgen Schwarz)
Frankfurt, Hamburg According to financial and corporate circles, Deutsche Telekom is about to make a final decision on the sale of a majority stake in its radio tower business.
The former favorite, Europe’s market leader for mobile infrastructure, Cellnex from Spain, is out of the race, as the company said on Wednesday. Cellnex’s partner, Canadian investment firm Brookfield, has now teamed up with another investor, Digital Bridge, and has submitted a surprise new bid in the last few yards, according to several people familiar with the matter.
It competes with the bid by the private equity consortium of investors KKR, Stonepeak and GIP, which was initially thought to be the last remaining bidder.
An official decision by Deutsche Telekom between the final bids is expected on Wednesday afternoon. The Group’s Supervisory Board is due to meet shortly. The bid from Brookfield and Digitalbridge is already considered a winner internally, as three people who know the situation said.
Top jobs of the day
Find the best jobs now and
be notified by email.
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue