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 company sources, Deutsche Telekom has decided to sell a majority stake in its radio tower business. Subject to approval by the antitrust authorities, a 51 percent stake will go to a partnership between Canadian investment company Brookfield and US infrastructure investor Digital Bridge.
According to the information, the supervisory board approved the transaction this evening. Deutsche Telekom’s radio tower portfolio was apparently valued at around 17.5 billion euros. It has more than 40,000 locations and is considered one of the most financially attractive in Europe.
The decision was preceded by a battle between several bidders. Cellnex, Europe’s market leader for mobile communications infrastructure, was the favourite. The Spaniards originally bid jointly with Brookfield.
The now successful Digitalbridge from Boca Raton in Florida has specialized in the financing of digital infrastructure. The company is involved in modern 5G mobile and fiber optic networks or data centers, for example.
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