Deutsche Telekom expects European tower business to further consolidate
Reuters
Published Jul 14, 2022 08:32
BERLIN (Reuters) - Deutsche Telekom (ETR:DTEGn) expects the European tower business to consolidate further and said it now had capable partners on board, after announcing earlier on Thursday that it would sell 51% of its tower business to a consortium.
Telekom will still hold a significant stake in the industry after the transaction and benefit from further growth, said Chief Executive Tim Hoettges.
However, the company would no longer have the business on its books, he said.
"They have deep pockets for the coming steps," Hoettges added in reference to the consortium partners - Canada's Brookfield and private equity group DigitalBridge Group Inc.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.