BERLIN (Reuters) – German telecoms group Deutsche Telekom and Spanish cell phone mast operator Cellnex said on Thursday they would combine their tower business in the Netherlands and set up a joint fund to invest in digital infrastructure.
Once the deal closes, Cellnex Netherlands will operate 4,314 sites, including 180 new ones which will be built over the next seven years. Cellnex will own 62% of the new entity, while Deutsche Telekom will hold 38% through the fund.
The companies will become anchor investors in a newly established Digital Infrastructure Vehicle (DIV), an investment fund focused on European digital infrastructure. Deutsche Telekom will transfer its T-Mobile Infra business to the fund, they said.
Deutsche Telekom will receive a 250 million euro ($303 million) cash payment and a shareholding in DIV, they added in the statement. This translates into a capital commitment of Deutsche …
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