International telecoms giant, Telefonica, is set to sell off its telecoms tower infrastructure in Germany for a reported €1.5 billion.
The deal, which was originally reported by Spanish news site Expansion, will see Telefonica’s German subsidiary, O2 Deutschland, sell off 10,000 telecoms sites across the country. The portfolio of towers will be purchased by European holding firm, Telxius.
Telxius currently manages a portfolio of 20,257 telecoms towers across Europe and is 50.01 per cent owned by Telefonica. The deal, which is reportedly a few weeks away from being finalised, would include a lease back arrangement which would allow Telefonica Deutschland to continue to use the towers in its German network.
An additional report by Capacity Media claims that Telxius will also build and maintain a series of new towers in Germany, which O2 Deutschland will agree to lease access to. This will help O2 Deutschland meet its obligations to the German government under the terms of its recently acquired spectrum licences.