Noerr advises Deutsche Telekom AG on establishment of joint venture for construction and operation of four million fibre optic connections
A Noerr team led by Jens Liese (Dusseldorf) and Tobias Frevert (Berlin) has advised Deutsche Telekom AG on the establishment of a long-term partnership between its group company Telekom Deutschland GmbH and the Australian IFM Global Infrastructure Fund.
Telekom Deutschland GmbH has sold 50 per cent of its shares in its wholly-owned subsidiary GlasfaserPlus GmbH to IFM Global Infrastructure Fund in an auction process. The parties have valued the company at €1.8 billion. The joint venture is to provide four million households in rural areas in Germany with a gigabit-capable fibre optic connection in the future. GlasfaserPlus GmbH will also offer the resulting network to competitors of Deutsche Telekom AG on a non-discriminatory basis and at market conditions.
Noerr advised Deutsche Telekom on corporate and M&A issues and on the drafting and negotiation of operative contracts for the construction and operation of the fibre optic network. The transaction is subject to the usual regulatory closing conditions and is to be implemented in the first quarter of 2022.
Deutsche Telekom AG
Dr Axel Lützner, Rainer Stockmann (all M&A), Dr Christoph von Damm (Head of Real Estate and Networks)
Noerr Partnerschaftsgesellschaft mbB advisors
Dr. Jens Liese (Corporate/M&A, Dusseldorf), Dr Tobias Frevert (Telecommunications, Berlin)
Gerrit Henze (Dusseldorf), Dr Moritz Koch (Hamburg)
Dr Frank Hölscher, Dr Julian von Lucius, Pascal Schumacher (all Berlin)
Michael Tommaso (Berlin)