Deutsche Telekom and Cellnex Telecom have signed an agreement to merge their respective Dutch mobile communications infrastructure companies into Cellnex Netherlands.
Both companies will also become anchor investors in the newly established and independently managed Digital Infrastructure Vehicle (DIV), an investment fund focused on European digital infrastructure.
Deutsche Telekom operates its Dutch telecommunications tower business in T-Mobile Infra BV, with ca. 3,150 towers and rooftop sites. The business of Cellnex NL, a subsidiary of Cellnex, comprises 984 cell sites. The enlarged company, with around 4,310 sites including planned new build of 180 sites, will be the largest independent cell mobile tower company in the Netherlands and will provide excellent geographic coverage.
T-Mobile Netherlands will continue to have full access to the contributed infrastructure through a long-term service agreement at arm’s length.
In a first step Deutsche Telekom is transferring T-Mobile Infra to the newly established and independently managed fund Digital Infrastructure Vehicle (DIV). Deutsche Telekom will receive a EUR 250 million cash payment out of the transaction and a shareholding in DIV in exchange for the T-Mobile Infra business.
Tim Höttges, CEO of Deutsche Telekom said,"The agreement with Cellnex underlines the high value of passive mobile infrastructure. We are creating a leading tower company in the Netherlands, which should unlock synergies and accelerate our 5G rollout. At the same time, DIV opens an innovative way to finance telecom infrastructure in partnership with institutional investors."