BONN (dpa-AFX) - Germany's Deutsche Telekom (DTEGY.PK) agreed to sell 51 percent stake in GD Towers, which comprise of tower assets in Germany and Austria, to Digital Bridge and Brookfield at 17.5 billion euros enterprise value on a cash and debt free basis.
Deutsche Telekom will retain 49 percent stake in GD Towers with significant minority protection rights.
Deutsche Telekom noted that estimated cash proceeds of 10.7 billion euros will be used for deleveraging at Deutsche Telekom Group level and acceleration of path towards 50.1 percent targeted stake in T-Mobile US.
The transaction is subject to usual regulatory approvals. Closing is expected towards end of 2022.
Copyright(c) 2022 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX