By Giulia Petroni 
 

Cellnex Telecom SA on Monday said that it is evaluating the acquisition of a stake in Deutsche Telekom AG's operator of telecommunications infrastructure in Germany and Austria.

The Spanish company said a potential acquisition could involve another investment partner, as mentioned in April.

"The aforementioned process is in the study phase and, therefore, the terms and conditions of a potential operation, including the valuation, are pending determination," it said.

The news came after Bloomberg reported last week that Canadian investment firm Brookfield Asset Management Inc. was in talks about teaming up with Cellnex on a bid for Deutsche Telekom's towers unit. A deal could value the business at about 20 billion euros ($21.4 billion) including debt, Bloomberg reported, citing people familiar with the matter.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

May 30, 2022 12:27 ET (16:27 GMT)

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