Brookfield Infrastructure Partners LP and DigitalBridge Group have agreed to buy a stake in Deutsche Telekom tower business for roughly 6.6 billion euros, equivalent to $6.64 billion, raising their bet on a telecommunications sector that has seen a flurry of deal making in recent years.
The German telecoms company on Thursday said it had agreed to sell the consortium a 51% stake in GD Towers, its tower unit in Germany and Austria, valuing the entire business at €17.5 billion. Deutsche Telekom expects cash proceeds of €10.7 billion, including debt of €4.1 billion, from the deal.
