KPN Said to Near Sale of German Tower Unit to American Tower

Royal KPN NV, the Dutch phone company partly owned by Mexican billionaire Carlos Slim, is nearing an agreement to sell its German mobile-phone towers to American Tower Corp., according to people familiar with the matter.

American Tower has won the bidding against Swedish private-equity firm EQT Partners AB and the group of Antin Infrastructure Partners and TDF Group, said the people, who asked not to be identified because talks are private. The U.S. owner and operator of wireless broadcast sites, based in Boston, may pay between 300 million euros ($383 million) and 400 million euros, they said.