Dutch telco KPN has reportedly mandated UBS to sell about 18,000 towers belonging to its German mobile unit, E-Plus.
Reuters cited one of two unnamed sources as saying the towers could command a price tag of €300m to €400m and that infrastructure…
Dutch telco KPN has reportedly mandated UBS to sell about 18,000 towers belonging to its German mobile unit, E-Plus.
Reuters cited one of two unnamed sources as saying the towers could command a price tag of €300m to €400m and that infrastructure funds are the most likely buyers. E-Plus would lease back the towers as part of the deal, the source reportedly said.
E-Plus, KPN and UBS have declined to comment.
KPN disclosed on 1 June that it was considering “strategic options” for E-Plus in an effort to “unlock” the unit’s true value. At the time, the telco was doing its best to dissuade investors from accepting America Movil’s (AMX) tender offer for their shares but Carlos Slim’s telecoms group attained its target 27.7% target stake shortly afterward.
On 20 June, KPN announced talks about the sale of E-Plus had been terminated as a result of “adverse conditions in the financial markets”. However, the telco apparently remained confident the unit – or parts of it – could be sold.
“Today, KPN has an even stronger belief that there is significant value embedded in the German unit and that other parties share this view,” the company stated at the time.
