American Tower buys KPN masts in Germany

Thursday 15 November 2012 | 10:49 CET | News
American Tower has agreed to buy over 2000 KPN tower sites in Germany for EUR 393 million after inking a deal with KPN's E-Plus unit. The transaction is expected to close in the fourth quarter of this year, subject to customary closing conditions. KPN said it expects to make a book profit of around EUR 100 million from the sale of 2000 masts in Germany to American Tower for EUR 393 million. The Dutch operator will use the cash proceeds to accelerate its mobile network roll-out in Germany and to improve its net debt position. The outlook for 2012 remains unchanged following the transaction.

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Categories: Mobile & Wireless
Companies: American Tower Corporation / E-Plus / KPN
Countries: Germany / Netherlands
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