Deutsche Telekom sells 51% stake in tower business for 10 bn euros

Deutsche Telekom has completed the partial sale of its tower business in Germany and Austria, which is combined in the GD Towers unit, effective February 1, 2023.
Deutsche Telekom network EuropeDeutsche Telekom announced in July 2022 that it would sell 51 percent of GD Towers to DigitalBridge and Brookfield. Deutsche Telekom will receive a total of more than 10 billion euros from the buyers and GD Towers.

Deutsche Telekom completed the process announced at the Capital Markets Day 2021 of positioning itself as best as possible for the future and enhancing the value of its tower business.

GD Towers operates more than 40,000 mobile sites in Germany and Austria with around 800 employees. The company generated pro forma revenues of 1.1 billion euros in 2021. Adjusted pro forma EBITDA AL amounted to 640 million euros in 2021.

CEO Bruno Jacobfeuerborn and Chairman Thorsten Langheim will continue to manage the business. Deutsche Telekom retains 49 percent of the shares with significant minority rights and thus retains a stake in future value growth in the attractive infrastructure business.

Telekom Deutschland and Magenta Austria will continue to have unrestricted access to GD Towers’ passive infrastructure via long-term lease agreements.

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