DigitalBridge to acquire the mobile telecommunications tower business of Telenet Group Holding for $820m.

DigitalBridge, a digital infrastructure REIT, agreed to acquire the mobile telecommunications tower business of Telenet Group Holding, a provider of entertainment and telecommunications services, for $820m. “Telenet’s tower business is a high-quality digital infrastructure asset with stable, predictable cashflows, high cash conversion, and long-term contracts. This transaction is the latest example of DigitalBridge’s commitment to working with leading telecom and technology companies globally to help them unlock embedded value in their networks via creative solutions built on long-standing relationships and a proven track record of successfully operating assets. We see significant headroom for growth in the Belgian telecom market through the enhancement of mobile penetration and data usage, and we look forward to meeting and exceeding Telenet’s increased coverage needs,” Marc Ganzi, DigitalBridge President and CEO.