Towards freeing up the funds for investing in its European networks, Deutsche Telekom has planned to sell it mobile towers in Germany, reports Reuters. Goldman Sachs and Morgan Stanley will be organizing the auction for the purpose.
The expected value for the assets range between 4-5 billion euros. The auction will be organized mostly in autumn. As an initial phase, Deutsche Telekom will send information packages on the business to potential buyers after the summer. Based on their feedback, the group will decide if to sell the entire business or to sell only a stake of it.
Deutsche Telekom may approach infrastructure investors, insurers, private equity groups, or the groups specializing in managing mobile towers, such as American Tower, Crown Castle, and SBA for the sale.
It is not the first time that Deutsche Telekom renders to selling mobile towers. In 2012, the group sold its U.S. towers business to Crown Castle for $2.4 billion as a means to raise capital.
There are also other network operators who resume to selling mobile towers. To point out, Telefonica Deutschland has agreed to sell its 2,350 towers to Telxius. Telecom Italia is also on its process to decide if to safeguard the remaining 60% stake in Infrastructure Wireless Italiane.