E-Plus towers attract interest, report says

24 Jul 2012

The mobile phone towers of German wireless operator E-Plus are drawing interest from infrastructure investors and buyout firms, according to a report by Bloomberg which cites four people familiar with the matter. Earlier this month E-Plus’ Dutch parent KPN Telecom reportedly hired UBS for a sale of thousands of its German unit’s base stations, in a deal that could raise around EUR300 million (USD363 million). According to the unidentified sources, funds managed by Swedish private equity firm EQT Partners and Macquarie Group are among the companies considering bids. KPN may complete the sale in the third quarter of 2012, the people added. The potential tower sale follows the collapse of talks between Spanish group Telefonica and KPN over a possible merger of their respective German units; at the time, KPN was fending off an unsolicited offer by Mexico-based America Movil (AM). However, last month KPN announced it had failed to find a buyer for E-Plus, citing ‘adverse conditions in financial markets’ as the reason behind the collapse of talks, and shortly after AM succeeded in its bid to increase its stake in the Dutch telco to 28%.

Germany, E-Plus Group