First-round bids received for E-Plus towers, report says

3 Oct 2012

The mobile phone towers of German wireless operator E-Plus have drawn first-round bids from infrastructure investors and private equity firms, Reuters reports, citing people familiar with the process. According to one of the sources, private equity firms EQT and KKR, as well as French television network operator TDF Group and Antin Infrastructure Partners are among the potential buyers. Final bids for the sale are due by the end of this month, two people said. As previously reported by CommsUpdate, E-Plus’ Dutch parent KPN Telecom earlier this year 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 sources. 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, in June 2012 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, KPN