A Deutsche Telekom sign silhouetted against the sun and clouds atop of the headquarters of the German telecoms giant in Bonn, Germany. Picture: REUTERS/WOLFGANG RATTAY
The German telecom company will use the proceeds to lower debt levels and fund plans to gain majority control of T-Mobile US, a key growth driver for the company, it said. The sale of a stake in Deutsche Telekom’s tower business is set to rank as one of the largest European infrastructure deals this year, according to data compiled by Bloomberg.
Vodafone Group’s listed infrastructure arm, Vantage Towers, was among the suitors studying the business earlier, Bloomberg News has reported.
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