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Deutsche Telekom to sell radio tower business in Q1 – Handelsblatt

FILE PHOTO: The logo of German telecommunications giant Deutsche Telekom and a GSM antenna are seen atop the company's headquarters in Bonn
FILE PHOTO: A crow perches on Deutsche Telekom AG’s GSM mobile phone antenna atop the German telecom giant’s headquarters in Bonn, Germany, February 19, 2019. REUTERS/Wolfgang Rattay

December 19, 2021

BERLIN (Reuters) – Deutsche Telekom hopes to sell its radio tower business as soon as in the first quarter of next year, Handelsblatt reported on Sunday, citing unnamed sources familiar with the matter.

The German newspaper reported that the telecommunications business will be opened for a minority or majority stake offering, estimating the value of this division at 20 billion euros ($22.48 billion). The company aims to have sales by the end of the first quarter of next year, it said.

Deutsche Telekom did not immediately respond to a request for comment on the report.

CEO Tim Hoettges said in November he was open to finding an industrial partner for the company’s tower infrastructure, days after Vodafone said it would consider opportunities for a move. The same goes for its recently listed tower business.

“I would love to have an industry partner and I am open to consolidation,” Hoettges said in November, adding that he wanted to play a role in making decisions that would follow a deal, especially in affecting any other mergers and acquisitions.

(1 dollar = 0.8898 euros)

(Reporting by Victoria Waldersee; Editing by Susan Fenton)

https://www.oann.com/deutsche-telekom-preparing-sale-of-radio-tower-business-in-q1-handelsblatt/?utm_source=rss&utm_medium=rss&utm_campaign=deutsche-telekom-preparing-sale-of-radio-tower-business-in-q1-handelsblatt Deutsche Telekom to sell radio tower business in Q1 – Handelsblatt

Bobby Allyn

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