Hamburg, Frankfurt Deutsche Telekom is selling a majority stake in its radio tower business to a consortium of North American investors at a valuation of 17.5 billion euros. Canadian asset manager Brookfield and US telecom infrastructure investor Digital Bridge are taking a 51 percent stake in the telecom subsidiary with more than 40,000 locations, the Bonn-based group confirmed on Thursday. The Handelsblatt had already reported on the upcoming deal on Wednesday.
Deutsche Telekom is receiving 10.7 billion euros in cash, with which the Group wants to repay debts. The debt level is currently at a record level of 132 billion euros.
This gives the Group scope to buy additional shares of the profitable subsidiary T-Mobile US. The target is 50.1 percent, and Deutsche Telekom currently holds 48.3 percent of the company with a market capitalization of $ 170 billion.
Company experts are also speculating on possible acquisitions in the USA, which are now becoming possible again after the recently strained financial situation.
