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Brookfield Infrastructure Partners LP (NYSE: BIP) and DigitalBridge Group Inc (NYSE: DBRG) announced on Thursday they are buying the tower business of Deutsche Telekom AG for roughly 6.6 billion euros, or $6.64 billion.
The companies said they have reached an agreement to acquire a 51% ownership stake in GD Towers, a German tower company.
“The combination of Deutsche Telekom’s leading mobile network and market position, alongside one of the largest real asset managers in the world in Brookfield, combined with the digital infrastructure domain expertise of DigitalBridge, creates a team of unmatched capabilities to support GD Towers as it grows to meet the evolving network demands of enterprises and consumers across Europe,” said Marc Ganzi, CEO of DigitalBridge.
The transaction is expected to close in late 2022, subject to regulatory approvals and other customary closing conditions, the companies said in a statement.
Picture Credits: Zuma Press
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