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MADRID — Deutsche Telekom has started the sale process of its towers business and expects indicative offers in the next couple of weeks, three sources with knowledge of the deal said.
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The German company is working with Goldman Sachs as advisor in the sale of its 40,600 masts, in a deal that could value the business close to 18 billion euros ($19.9 billion), two of the sources said, speaking on condition of anonymity.
A Deutsche Telekom spokesperson said the group was in the process of reviewing several options for the tower business – as announced last year on its capital markets day.