BONN (dpa-AFX) - Deutsche Telekom AG (DTEGY.PK) and Cellnex Telecom S.A. have agreed to merge their Dutch mobile communications infrastructure companies into Cellnex Netherlands BV. This combination of tower businesses of both companies will result in the largest independent cell mobile tower company in the Netherland.
The companies will also become anchor investors in a newly created Digital Infrastructure Vehicle (DIV), an investment fund focused on European digital infrastructure. DIV will be open to institutional investors. Deutsche Telekom intends to hold a limited partner stake of around 25 percent in the fund after third-party investments.
Deutsche Telekom will transfer T-Mobile Infra to the DIV. It will receive 250 million euros cash payment and a shareholding in DIV in exchange for the T-Mobile Infra business. This translates into a capital commitment of Deutsche Telekom of approximately 400 million euros to the fund. Cellnex has agreed to commit 200 million euros of capital to DIV. Later, DIV will contribute the received T-Mobile Infra business to Cellnex NL. DIV will receive approximately 38 percent economic interest in Cellnex NL. Cellnex holds remaining 62 percent.
Copyright RTT News/dpa-AFX