Deutsche Telekom and Tele2 sell T-Mobile Netherlands for €5.1B

Deutsche Telekom and Tele2 sell T-Mobile Netherlands for €5.1B
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Deutsche Telekom and Tele2 are selling T-Mobile Netherlands to WP/AP Telecom Holdings, a consortium jointly controlled by Apax and Warburg Pincus.

A strategic review of T-Mobile NL was launched by Deutsche Telekom in May. The deal, worth an enterprise value of €5.1 billion, marks the completion of the review.

Deutsche Telekom believes that it’s leaving T-Mobile NL in safe hands to “a consortium with long-standing experience and differentiated strategic value add in the telecommunications sector”.

“In Apax and Warburg Pincus, we are convinced we have found the perfect partners for T-Mobile NL to take the company to the next level of growth and continue the FMC Challenger Strategy,” said Thorsten Langheim, Board member for USA and Group Development Deutsche Telekom AG, and responsible for T-Mobile NL.

Since 2017, Deutsche Telekom has strengthened T-Mobile NL’s mobile marketshare from 25 percent to 42 percent in 2020. T-Mobile NL is now the leading mobile operator in the Netherlands.

“Through our dedicated value creation plan and T-Mobile NL’s unique challenger mindset, we have successfully transformed T-Mobile NL into the fastest growing MNO in Europe,” continues Langheim.

“I am proud of what the entire Dutch Team lead by Soren Abildgaard has achieved through their relentless efforts and clear customer focus and I am thankful for the valuable support of Johan Andsjö as the leading member in the advisory board.”

Apax and Warburg Pincus are also joint owners of satellite giant Inmarsat, potentially providing T-Mobile NL with a valuable asset to support its future growth.

Gabriele Cipparrone, Partner at Apax, commented:

“T-Mobile fits perfectly with the Apax Funds strategy of investing in innovative companies with solid fundamentals and strong growth prospects.

Thanks to the excellent work of its talented management team and employees, T-Mobile enjoys strong brand recognition and has become the leading mobile operator in the Netherlands, with a growing presence in fixed broadband, leveraging future-proof fibre to the home technology.

We look forward to supporting the company to further accelerate growth and become a leading convergent player, by enhancing its network leadership, growing its fibre to the home customer base, and delivering a best-in-class customer service.”

Other investments from the veteran telecoms consortium include Orange Switzerland, Ziggo, TDC, Wind Telecom, and Community Fibre.

(Photo by Ibrahim Boran on Unsplash)

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