Telenet has completed the sale of its mobile tower business to DigitalBridge Investments. As a result of the sale, DigitalBridge’s Belgium Tower Partners now holds all of Telenet’s mobile passive infrastructure and tower assets. These comprise 3,326 sites across the country including 2,162 owned sites, of which nearly 38% are towers, and 1,164 third-party sites.
At the end of March this year, DigitalBridge agreed to acquire Telenet’s tower portfolio for a total consideration of EUR745 million (USD799 million) on a cash-free and debt-free basis, fully payable in cash. As part of the agreement, both parties entered into a multi-year partnership on 1 June 2022 through a Master Lease Agreement for an initial period of 15 years and two renewals of ten years each. This agreement also includes a build-to-suit commitment to deploy a minimum of 475 additional new sites with Telenet acting as a subcontractor to Belgium Tower Partners, resulting in additional proceeds to Telenet over time.