Tele2, a telco headquartered in Stockholm, is planning to carve out telecom infrastructure assets and create the first tower company covering all Baltic countries through a 50/50 partnership with a tower platform Global Communications Infrastructure (GCI), which is backed by Manulife Investment Management.
The newly established Baltic tower company will own tower and rooftop assets in Estonia, Latvia and Lithuania — a total of around 2,700 sites. Following the transaction, Tele2 will be the anchor tenant under a 20-year master service agreement.
The transaction, which values the tower company at €560 million ($652 million) on a debt-free basis, enables Tele2 to unlock value in its mobile telecom infrastructure while enabling the continued growth and rollout of mobile and 5G services.
“We want to develop our tower assets together with a partner who brings both capital and expertise,” said Jean Marc Harion, president and CEO of Tele2. “This is a way for
