Deutsche Telekom will keep the remaining 49% stake and the deal is expected to close towards the end of this year
Deutsche Telekom has agreed to sell 51 per cent of its towers business to a consortium of Canada’s Brookfield and U.S. private equity firm DigitalBridge after they placed a surprise €17.5-billion bid in the auction’s final stages.
The German telecoms giant will keep the remaining 49 per cent stake and the deal is expected to close towards the end of this year. It will reduce Deutsche Telekom’s financial debt by €10.7-billion, the company said, as it works towards acquiring a majority share in its T-Mobile U.S. subsidiary. The towers sale kicked off in March and a competing binding offer came from a consortium led by KKR, backed by U.S. investment firms Global Infrastructure Partners and Stonepeak.
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