Deutsche Telekom is planning to sell off its network of mobile towers in Germany, worth up to €5 billion, reports Reuters.
The company wants to invest the proceeds in its European broadband network.
It has appointed US banks Goldman Sachs and Morgan Stanley to handle an auction of the towers business, with a plan for a sale in the autumn. It is hoping the unit will be worth up to €5 billion, including debt.
Deutsche Telekom is planning to distribute information packages on the business to potential buyers after the summer and will, depending on feedback, decide on whether it divests the whole unit or just a stake in the business. It could even decide to keep the business.
Potential buyers include specialist tower firms, as well as private equity firms.
Any deal by Deutsche Telekom could coincide with a proposed IPO for Telxius, Telefonica’s global infrastructure unit.
The Spanish had mulled an offering for Telxius as soon as this month but market uncertainty has reportedly led them to reconsider their plans. This could lead to an IPO coming back later in the year.