Deutsche Telekom to sell tower business to N. American consortium – Handelsblatt

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The paper cited three people familiar with the sales process.

The consortium was expected to acquire a majority stake in the tower business, the paper said, citing financial and company sources.

Deutsche Telekom (OTC:DTEGY) declined comment on the report. The deal is expected to help the German telecoms giant raise enough funds to cut its debt while keeping some exposure to key infrastructure.

A representative for Digital Bridge didn’t immediately respond to a request for comment.

The sales process, which kicked off in March, has seen strategic bidders and infrastructure funds compete for a stake in the masts unit known as Deutsche Funkturm GmbH (DFMG).

Earlier Wednesday, Spain’s Cellnex said it was withdrawing its offer for a stake in the towers business.