BERLIN (Reuters) – German telecoms group Deutsche Telekom and Spanish cell phone mast operator Cellnex announced on Thursday to combine their tower business in the Netherlands.
The companies will become anchor investors in a newly established Digital Infrastructure Vehicle (DIV), an investment fund focused on European digital infrastructure to which Deutsche Telekom will transfer its T-Mobile Infra business, they said.
Deutsche Telekom will receive a 250 million euro ($303 million) cash payment and a shareholding in DIV, they added in the statement. This translates into a capital commitment of Deutsche Telekom of around 400 million euros to the fund.
Cellnex also agreed to commit 200 million euros of capital to DIV, they said.
($1 = 0.8247 euros)
(Reporting by Thomas Seythal; Editing by Maria Sheahan)
