Deutsche Telekom completed the previously-announced, partial sale of its tower business in Germany and Austria, which is combined in the GD Towers unit, to DigitalBridge and Brookfield for more than 10 billion euros.
GD Towers operates more than 40,000 mobile sites in Germany and Austria with around 800 employees. The company generated pro forma revenues of 1.1 billion euros in 2021. Adjusted pro forma EBITDA AL amounted to 640 million euros in 2021. The management team led by CEO Bruno Jacobfeuerborn and Chairman Thorsten Langheim will continue to manage the business.
Deutsche Telekom retains 49 percent of the shares with significant minority rights and thus retains a stake in future value growth in the attractive infrastructure business. Telekom Deutschland and Magenta Austria will continue to have unrestricted access to GD Towers’ passive infrastructure via long-term lease agreements.
