T-Mobile USA closes deal with
Nov 30, 2012
T-Mobile USA has today closed the deal with Crown Castle on the long-term lease as well as sale of radio towers. On September 28, 2012, T-Mobile USA announced the conclusion of a framework agreement with Crown Castle regarding the lease-leaseback and the sale of approximately 7,100 wireless communication towers owned by Deutsche Telekom's U.S. subsidiary.
The proceeds of the transaction have an immediate deleveraging effect, reducing Deutsche Telekom's net debt by the equivalent of around EUR 1.9 billion and thus strengthening its rating-relevant financial ratios. The net effect of the transaction will not impact on adjusted EBITDA of the 2012 financial year.
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About Deutsche Telekom
Deutsche Telekom is one of the world’s leading integrated telecommunications companies with more than 131 million mobile customers, 33 million fixed-network lines and over 17 million broadband lines (as of September 30, 2012). The Group provides products and services for the fixed network, mobile communications, the Internet and IPTV for consumers, and ICT solutions for business customers and corporate customers. Deutsche Telekom is present in around 50 countries and has over 230,000 employees worldwide. The Group generated revenues of EUR 58.7 billion in the 2011 financial year – more than half of it outside Germany (as of December 31, 2011).