German giant Deutsche Telekom (DT) is considering the sale of its T-Mobile operation in the Netherlands as it looks to raise funds to cut its debt and help pay for wireless spectrum in the US. A report from Bloomberg, which cites ‘people familiar with the matter’, says T-Mobile Netherlands could be worth as much EUR5 billion (USD5.7 billion). Credit Suisse Group has been brought in to advise on a potential sale, the sources say.
The report names multinational cableco group Liberty Global as a possible buyer for the cellco, though the firm has declined to comment on the rumours; Liberty Global is active in the Dutch fixed broadband, pay-TV and telephony sectors through its UPC (Ziggo) subsidiary and also provides mobile services in the country under an MVNO arrangement. T-Mobile is the third largest of the four mobile network operators in the Netherlands, with 3.7 million users and a 20% market share at the end of June 2015, according to TeleGeography’s GlobalComms Database. The unit reported EBITDA of EUR630 million in 2014 on revenues of EUR1.55 billion, and accounted for 2.5% of DT’s consolidated turnover.