Deutsche Telekom expects European tower business to further consolidate

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Telekom will still hold a significant stake in the industry after the transaction and benefit from further growth, said Chief Executive Tim Hoettges.

However, the company would no longer have the business on its books, he said.

“They have deep pockets for the coming steps,” Hoettges added in reference to the consortium partners – Canada’s Brookfield and private equity group DigitalBridge Group Inc.