Deutsche Telekom and Cellnex to Combine Tower Business
German telecoms group - Deutsche Telekom and the Spanish cell phone mast operator - Cellnex said today that they would combine their tower business in the Netherlands, as well as set up a joint fund to invest in Europe’s digital infrastructure.
Indeed, telecom tower investments are becoming “the new black” as 5G internet expands.
Cellnex Netherlands is to operate 4,314 sites, including 180 new ones, scheduled to be built within the next seven years. Cellnex will own 62% of the new entity, while Deutsche Telekom will hold 38% through the fund.
The companies will both become investors in the newly established Digital Infrastructure Vehicle (DIV) investment fund.
Deutsche Telekom will receive a 250 million euro cash payment and a share in DIV, which translates into a capital commitment of around 400 million euros. Cellnex, in turn, will have contributed 200 million euros.
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