Deutsche Telekom and Tele2 announce 5.1 billion euros sale of T-Mobile Netherlands
The transaction marks the completion of Deutsche Telekom’s strategic review of T-Mobile NL which was announced at the May 2021 Capital Markets Day and follows the 0.7 billion euros divesture of its Dutch mobile tower business earlier this year.
The transaction is subject to customary closing conditions, including regulatory approvals and consultation with employee representatives.
Upon closing of the transaction, Deutsche Telekom will receive approximately 3.8 billion euros net cash proceeds from the transaction and deconsolidate T-Mobile NL, which generated 2,008 million euros of revenues and 582 million euros of adjusted EBITDA AL in the last twelve months as of June 30, 2021.
Cash proceeds to Deutsche Telekom are net of proceeds to 25 percent shareholder Tele2 and other debt items. They include the repayment of Deutsche Telekom’s shareholder loans to T-Mobile NL. ■