Apax Funds and Warburg Pincus to acquire T-Mobile Netherlands

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The transaction values the company at an Enterprise Value of €5.1bn.

Apax Funds and Warburg Pincus have agreed to acquire T-Mobile Netherlands Holding B.V. from Deutsche Telekom AG and Tele2 AB. They announced the deal in a press release this week.

T-Mobile is a leading European telecommunications operator that operates four brands: T-Mobile, Tele2, Ben, and Simpel. Under the current management team, the Company has become the leading mobile network operator in the Netherlands. It is the first to offer unlimited and nationwide 5G. They have also become the fastest growing operator in fixed broadband market. The company serves around 700,000 broadband customers at the end of Q2 2021.

Under the new ownership, T-Mobile will become an independent Dutch Company. Apax and Warburg Pincus will look to partner with the management team. They intend to support the Company as it continues to focus on innovation and growing its already impressive customer base.

Continuing to deliver “superior value” to customers

Søren Abildgaard, CEO T-Mobile Netherlands, commented on the deal. “We are excited about the path ahead and to work together with Apax and Warburg Pincus over the coming years. We are looking forward to continuing our strategy in the Dutch market, offering superior value to our customers.”

René Obermann, co-head of Europe and MD of Warburg Pincus Deutschland, praised the company. ‘’Hats off to the talented people at T-Mobile/Tele2/Ben and Simpel for what they have accomplished! Ultra-fast wireless internet, the most highly regarded customer support and innovative services – at affordable rates.”

Gabriele Cipparrone, Partner at Apax, also commented. “T-Mobile fits perfectly with the Apax Funds strategy of investing in innovative companies with solid fundamentals and strong growth prospects,” he said.

“We look forward to supporting the company to further accelerate growth and become a leading convergent player,” he said. They will do this by “growing its fibre to the home customer base and delivering a best-in-class customer service.”

The transaction remains subject to customary closing conditions, including consultation with employee representatives, and regulatory approvals.