Telenet parent Liberty Global is thinking of selling the antenna portfolio of Telenet, in a deal that could bring in at least EUR 600 million, Bloomberg reported, citing sources familiar with the matter. Talks are ongoing. According to Belgian daily De Tijd, Liberty Global has hired Goldman Sachs to help it sell the full portfolio of 3,000 antennas.
Most providers have in several countries been selling their infrastructure to investors in recent years. Earlier this year, the sale of over 3,100 antennas from T-Mobile to Cellnex was completed in the Netherlands. Vodafone has listed its antenna portfolio in 10 countries, totaling 82,000 units, on the Frankfurt Stock Exchange as a separate company and Orange has transferred its antennas in France and Spain to the new company Totem. In France, Cellnex also owns a large number of SFR antennas.
In Belgium, Telenet would be the first party to sell its entire antenna portfolio to an external party. Selling antennas in Belgium is more complex than in other countries because providers in Belgium are obliged to share sites. A new owner will also receive the other two mobile providers in Belgium as users of the antennas.
For mobile providers, the sale of antennas can improve the cash position. Many mobile operators do not see infrastructure as their core activity. In this time of low interest rates, investors are also looking for good investments. Due to the long-term contracts that are concluded when selling and renting back antennas, these types of constructions are also very lucrative for investors.
