Dutch telco KPN has agreed to sell and lease back part of its portfolio of towers in the Netherlands to Indonesian towerco Protelindo.
KPN announced today that the sale will generate €75m (US$97m) in cash proceeds and result in a book gain of €66m…
Dutch telco KPN has agreed to sell and lease back part of its portfolio of towers in the Netherlands to Indonesian towerco Protelindo.
KPN announced today that the sale will generate €75m (US$97m) in cash proceeds and result in a book gain of €66m (US$86m).
The company said it does not consider the exploitation of a large portion of its Dutch towers to be part of its core business, noting that mobile towers are generally used by multiple operators in the Netherlands.
KPN is reportedly also considering selling mobile towers belonging to its German unit E-Plus. First-round bids for the towers were submitted by infrastructure funds several weeks ago.
Last Friday, new reports emerged that KPN is in talks with Telefonica Deutschland, which has just completed its IPO on the Frankfurt Stock Exchange, about a possible network sharing deal. However, Telefonica Deutschland CEO Rene Schuster said in a speech at the Frankfurt exchange yesterday that, while the “whole sector” in Germany is talking to each other right now, the company does not expect to make any firm decisions on the matter until after the Christmas period.
Founded in 2003, Protelindo claims to be the largest independent owner and operator of tower sites for wireless communications companies in Indonesia.
