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General

T-Mobile Netherlands sells for less than expected, strategy unchanged

Wednesday 8 September 2021 | 14:56 CET | Author: Tim Poulus | Market Commentary
Deutsche Telekom and Tele2 have agreed to sell T-Mobile Netherlands to Apax Partners and Warburg Pincus. The quoted price of EUR 5.1 billion includes debt, giving the company's equity a value of just EUR 3.0 billion, or 5x EBITDA. Looking back, the company also spent EUR 1.25 billion acquisitions in recent years (Vodafone Thuis, Tele2, Simpel), likely paid with debt (loans from Deutsche Telekom). The deal brings no synergies, change in strategy or market consolidation. That means we can ask already, who will the private equity firms eventually sell T-Mobile to?

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This article is an opinion of Telecompaper.


Categories: General
Companies: BT / Delta Fiber / Deutsche Telekom / Inmarsat / KPN / Softbank / Tele2 / Tele2 Nederland / T-Mobile Nederland / T-Mobile US / VodafoneZiggo
Countries: Netherlands
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