Telefonica Deutschland Holding AG agreed to transfer 7,700 mobile-tower sites to Deutsche Telekom AG as it cuts back redundant infrastructure following the takeover of rival carrier E-Plus.
The transfer “realizes a part of the announced synergies” following the completion of the E-Plus acquisition last October, according to a statement Monday. Transfer of the sites, which are mostly roof-top, requires regulatory approval and no financial details were given in the statement.
With the divestment, Telefonica Deutschland is following in the steps of its parent company, Telefonica SA, which sold a batch of sites in Spain between 2013 and 2014. Selling telecommunications towers is a way for carriers to raise cash quickly and focus on services instead of hardware maintenance.
Following the transfer, Telefonica Deutschland will have a network of 25,000 sites, according to the statement.