T-Mobile Cancels Plans to Sell Tower Operations

T-Mobile has cancelled plans to sell off its towers business due to the decline in the financial markets, reports the Financial Times. A T-Mobile spokesperson told the newspaper that the company had "no information to share" regarding its tower auction.

On 16 November, JPMorgan issued an analyst note saying: "DT has called off the sale of its mobile towers in the US. Furthermore it is not pursuing earlier considerations to sell (some of) its European towers." DT being the parent of T-Mobile, Deutsche Telekom.

The company had put a valuation of around US$1.5 billion on its US tower operations and was also seeking bids for its German network. The UK network is in the middle of a RAN sharing deal with Orange UK which could complicate a trade sale.

On the web: Financial Times

Posted to the site on 29th November 2007