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Deutsche Telekom’s German tower network is in demand. Newspaper Handelsblatt reports that several investors and network companies are lining up for an acquisition.

Deutsche Telekom is selling 50 to 75 percent of its German tower network. The proceeds are earmarked for debt repayments and investments in fibre and 5G.

According to Handelsblatt, the initial bids were made. Spanish telecom operator Cellnex is mentioned, which acquired T-Mobile Netherlands’ tower park last year. Industry peer American Tower and Vodafone subsidiary Vantage Towers seem interested as well. Lastly, Handelsblatt reports on several investment companies, including EQT, KKR and GIP.

The network is estimated to be worth between 15 and 18 billion euros. Deutsche Telekom is expected to choose the winning bid by July 2022.

Deutsche Telekom for sale

The proceeds will help pay off a record debt of 132 billion euros. Furthermore, an insider told Handelsblatt that acquisitions may be planned.

The latter is plausible. Deutsche Telekom is seeking a majority stake in T-Mobile US’s 5G network, but struggles to acquire the final shares. The giant is more than $2 billion away from the finish line.

Tip: The EU is behind on 5G deployment