Deutsche Telekom and Tele2 have agreed to sell T‑Mobile Netherlands to WP/AP Telecom Holdings, a consortium jointly controlled by private equity firms Apax and Warburg Pincus.
Deutsche Telekom initiated a strategic review of T‑Mobile NL in May. The transaction, which values the business at an enterprise value of €5.1 billion, concludes that review and transfers ownership to the consortium.
Deutsche Telekom said it is confident that T‑Mobile NL will be in capable hands with a consortium that brings extensive experience and differentiated strategic value in the telecommunications sector.
“With Apax and Warburg Pincus, we believe we have found the ideal partners to propel T‑Mobile NL into its next phase of growth and continue the FMC Challenger Strategy,” said Thorsten Langheim, Board Member for USA and Group Development at Deutsche Telekom AG, who is responsible for T‑Mobile NL.
Since 2017, Deutsche Telekom has overseen significant growth at T‑Mobile NL, increasing its mobile market share from 25 percent to 42 percent by 2020. Today, T‑Mobile NL is the leading mobile operator in the Netherlands.
“Through a focused value-creation plan and T‑Mobile NL’s challenger mindset, we have transformed the business into one of the fastest-growing mobile network operators in Europe,” Langheim added.
He praised the Dutch team, led by Soren Abildgaard, for their consistent customer focus and dedication, and thanked Johan Andsjö for his support as a leading member of the advisory board.
Apax and Warburg Pincus are also co-owners of satellite operator Inmarsat, an asset that could support T‑Mobile NL’s future development and service capabilities.
Gabriele Cipparrone, Partner at Apax, commented on the acquisition:
“T‑Mobile is precisely aligned with the Apax Funds’ strategy of investing in innovative businesses with solid fundamentals and strong growth potential.
Thanks to the outstanding work of its talented management and employees, T‑Mobile has strong brand recognition and is the leading mobile operator in the Netherlands, while also expanding in fixed broadband through future-proof fibre-to-the-home technology.
We look forward to supporting the company to accelerate growth further and develop into a leading convergent provider by strengthening its network leadership, growing its fibre-to-the-home customer base, and delivering top-tier customer service.”
The consortium’s telecom investments have previously included assets such as Orange Switzerland, Ziggo, TDC, Wind Telecom, and Community Fibre, demonstrating significant sector experience that it aims to bring to T‑Mobile NL.
(Photo by Ibrahim Boran on Unsplash)
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