KPN Close to Selling German Tower Assets

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Netherlands based KPN is said to be close to a deal to sell its German subsidiary's tower assets to USA based American Tower.

Citing people familiar with the matter, Bloomberg News reported that American Tower has won the bidding against the private-equity firm EQT Partners and the group of Antin Infrastructure Partners and TDF Group.

The bids are thought to be in the region of EUR300-EUR400 million.

A final decision is expected to be announced next week.

Last week KPN sold an unspecified number of its Dutch towers to Protelindo, an Indonesia based owner and operator of towers for wireless communications for EUR75 million.

In related news, American Tower has reported that net income for the third quarter was $232.1 million compared to net loss of $15.7 million a year ago.

On the web: Bloomberg News

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Tags: kpn  e-plus  american tower  Germany  Netherlands 

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