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KPN to offload Dutch mobile towers
12 December 2011
Netherlands incumbent KPN to sell mobile tower assets to UK infrastructure firm Shere
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infrastructure sharing
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KPN is to sell part of its Dutch mobile towers portfolio to a subsidiary of UK based mobile tower owner Shere Group, in two tranches. The sale of the first tranche will fetch €78 million and a book gain of €66 million in the fourth quarter of the year.
The sale of the second tranche will be completed in the first quarter of 2012 and the Dutch operator expects €37 million and a book gain of €30 million from this sale.
KPN had previously disposed of its mobile towers in 2008, 2009 and 2010, and following the sale, KPN leases back the space it requires for its network equipment.
Private equity-backed Shere Group, set up in 2004, says it has three subsidiaries, Radiosite, Watersite and QS4, which own over 400 sites in the UK and have access to 5,000 so far unbuilt potential sites on on land belonging to United Utilities, Electricity Northwest and Thames Water. GTB
Further reading from Global Telecoms Business:
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KPN 'to offload' Spanish operations 16 Nov 2011
KPN considers acquisitions in Germany 04 Oct 2011
KPN boosts bid to €100m in German auction 22 Apr 2010