KKR-backed group leads bidding for DT tower unit

5 Jul 2022

A consortium backed by KKR is emerging as the frontrunner to buy a stake in Deutsche Telekom (DT’s) mobile tower business, Bloomberg cites people with knowledge of the matter as saying. KKR has apparently made an offer in conjunction with Global Infrastructure Partners and Stonepeak, ahead of rival proposals from Brookfield Asset Management and Spain’s Cellnex Telecom, according to the unnamed sources. DT plans to formally choose a winner for Deutsche Funkturm, which could be valued at around USD20 billion, as soon as this week. However, no final decisions have been made and the talks could still fall apart, and DT could still potentially decide to retain the unit or other bidders could emerge.

Germany, Deutsche Telekom (DT)