COPENHAGEN (Reuters) -Sweden's Tele2 said on Wednesday it would form a telecoms tower company with Global Communications Infrastructure (GCI), backed by Manulife Investment Management, to roll out
Tele2 Partners with GCI to Launch Telecom Tower Firm in the Baltics
Tele2 and GCI's New Telecom Tower Venture
COPENHAGEN (Reuters) -Sweden's Tele2 said on Wednesday it would form a telecoms tower company with Global Communications Infrastructure (GCI), backed by Manulife Investment Management, to roll out mobile and 5G services across the Baltic countries.
Valuation and Financial Details
Tele2 said in a statement the transaction valued the tower company at 560 million euros ($648.59 million) on a debt free basis and that the company expected cash proceeds of around 440 million euros.
Geographic Focus of the New Company
The new company will be based in Lithuania and will own around 2,700 telecom tower and rooftop sites in Estonia, Latvia and Lithuania, Tele2 said.
($1 = 0.8634 euros)
(Reporting by Louise Breusch Rasmussen, editing by Terje Solsvik)
