KPN, the Dutch telco, is selling a portfolio of towers to UK based Shere Group for €115m, KPN said in a statement.
The transaction is split in two tranches.
The first tranche will result in cash proceeds of €78m and a book gain of €66m in the…
KPN, the Dutch telco, is selling a portfolio of towers to UK based Shere Group for €115m, KPN said in a statement.
The transaction is split in two tranches.
The first tranche will result in cash proceeds of €78m and a book gain of €66m in the fourth quarter of 2011. The sale of the second tranche will be completed in the first quarter of 2012, with expected cash proceeds of €37mand a book gain of €30m.
A spokesperson for KPN declined to disclose the number of towers sold.
KPN has sold mobile towers previously in transactions in 2008, 2009 and 2010.
