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Proximus is selling its 267 transmission towers in Luxembourg for an amount of 108 million euros. The transaction will free up additional resources to finance other activities. Proximus
Proximus is selling its 267 transmission towers in Luxembourg for an amount of 108 million euros. The transaction will free up additional resources to finance other activities.
Proximus announces the sale of Proximus Luxembourg Infrastructure in a press release. This subsidiary of the Proximus Group was responsible for managing the 267 transmission towers that the telecommunications operator operates in the Grand Duchy. For 108 million euros, InfraRed is taking over one hundred percent of the shares and thus all of Proximus’ transmission masts.
The transaction does not mean that Proximus is leaving Luxembourg completely. The Department of Luxembourg will continue to use the cell towers under a rental agreement to continue mobile services. The telecommunications operator is active in Luxembourg with the Proximus NXT brand, among others. The transaction is expected to be fully completed in the first quarter of 2025, depending on how quickly regulators grant approval.
The sale of the tower infrastructure fits into the telecom operator’s broader divestment plans. Proximus has committed to reducing investments in “non-core activities” by 500 million euros by 2027. The company is now halfway through this process. In doing so, Proximus wants to free up resources for strategic priorities, such as the further development of the fiber optic network.
Source: IT Daily
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