Deutsche Telekom completes majority sale of GD Towers

Deutsche Telekom has finalized the sale of a majority stake in its GD Towers unit, which operates mobile towers in Germany and Austria. The company announced in July 2022 its intention to sell 51 percent of GD Towers to DigitalBridge and Brookfield. With the closing of the deal, Deutsche Telekom will receive more than 10 billion euros in proceeds.

GD Towers operates over 40,000 mobile sites across Germany and Austria, employing around 800 people. In 2021, the unit generated pro forma revenues of 1.1 billion euros and an adjusted pro forma EBITDA AL of 640 million euros. The management team will continue to lead the business.

Deutsche Telekom retains a 49 percent stake in GD Towers, securing significant minority rights and participation in future value growth. Telekom Deutschland and Magenta Austria will maintain unrestricted access to GD Towers' passive infrastructure through long-term lease agreements.

The cash proceeds from the sale are expected to reduce Deutsche Telekom's liabilities by more than 10 billion euros.