T-Mobile and EQT Announce Joint Venture to Acquire Lumos and Build Out the Un-carrier’s First Fiber Footprint


T-Mobile’s scalable broadband and wireless growth engine combined with EQT’s infrastructure expertise will leverage Lumos’ fiber platform to deliver broadband services to more Americans 

BELLEVUE, Wash. & NEW YORK, NY, April 25, 2024,  — T-Mobile (NASDAQ: TMUS), America’s 5G leader and fastest growing broadband provider, and EQT, a purpose-driven global investment organization, today announced they have entered into a joint venture (JV) with EQT’s Infrastructure VI fund (EQT) that will acquire fiber-to-the-home platform Lumos from EQT’s predecessor fund EQT Infrastructure III.

The JV will bring T-Mobile’s retail, marketing, brand and customer experience strengths together with EQT’s fiber infrastructure investment expertise. Together they will acquire Lumos’ scalable fiber network build capabilities to deliver best-in-class high-speed fiber internet connectivity to customers across the U.S. without access to fiber today. After the transaction closes, Lumos, which currently reaches 320,000 households over 7,500 route miles with fiber optic internet and home wi-fi service in the Mid-Atlantic, will transition to a wholesale model with T-Mobile as the anchor tenant owning customer relationships and leveraging its brand to attract new subscribers. The JV will focus on market identification and selection, network engineering and design, network deployment, and customer installation.

“As the demand for reliable, low-latency connectivity rapidly increases, this deal is a scalable strategy for T-Mobile to take a significant step forward in expanding on our broadband success and continue shaking up competition in this space to bring even more value and choice to consumers,” said Mike Sievert, CEO of T-Mobile. “Together with EQT and Lumos, T-Mobile is building on our position as the fastest growing broadband provider in the country in a value-accretive way that complements our sustained growth leadership in wireless. Customers – homes and businesses – who get the fast, affordable, and reliable internet they need will be the real winners.”

T-Mobile provides a unique value proposition and much-needed reliable connectivity to homes and businesses across the country through its 5G Internet, a fixed wireless internet service on its 5G network that is available to more than 50 million households and businesses nationwide and serves over 5 million customers, as well as T-Mobile Fiber, which has launched in parts of 16 U.S. markets. Those launches have shown consumer demand for broadband that T-Mobile cannot meet through its fallow capacity fixed wireless product alone, and many customers want the speed and reliability that only fiber can provide.

Jan Vesely, Partner within EQT’s Infrastructure Advisory Team said, “We are proud to have partnered with Lumos over the past six years to rapidly scale the company and roll out fiber to underserved markets, and we look forward to continuing to leverage EQT’s considerable digital infrastructure and fiber expertise to support the significant fiber buildout ambitions of T-Mobile and the JV. This new effort will build critical fiber broadband infrastructure that will enable remote work, education, and healthcare use cases across the country. We have worked with T-Mobile as a customer across many of our existing digital infrastructure investments and are delighted to build on that relationship and partner with T-Mobile on this opportunity to roll out fiber to underserved Americans.”

“Lumos takes great pride in our achievements, as we have successfully delivered fiber to hundreds of thousands of homes and businesses, marking a significant acceleration in our growth. Our commitment to enhancing customers’ lives through the development of a network prepared for the demands of tomorrow remains steadfast,” Brian Stading, CEO of Lumos. “With the support of our private equity partner, EQT, and leveraging the strength of the T-Mobile brand and unrivaled customer experience, Lumos is set to expedite our network expansion. This joint venture will amplify our ability to change lives through the transformative power of fiber optic internet.”

The transaction is expected to close in late 2024 or early 2025, subject to customary closing conditions and regulatory approvals. At closing, T-Mobile is expected to invest approximately $950 million in the JV to acquire a 50% equity stake and all existing fiber customers, with the funds invested by T-Mobile being used by Lumos for future fiber builds. The next capital contribution by T-Mobile out of an additional commitment of approximately $500 million is anticipated between 2027 and 2028. These combined investments are expected to allow Lumos to reach 3.5 million homes passed by the end of 2028. T-Mobile continues to expect to complete its remaining authorization for share repurchases and dividends in 2024.

With this transaction, EQT Infrastructure VI is expected to be 35-40% percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on target fund size and subject to customary regulatory approvals.

Cautionary Statement Regarding Forward-Looking Statements

This communication contains certain forward-looking statements concerning T-Mobile and the proposed transaction with EQT to acquire regional fiber company Lumos. All statements other than statements of fact, including information concerning future results, are forward-looking statements. These forward-looking statements are generally identified by the words “plan,” “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “could” or similar expressions. Such forward-looking statements include, but are not limited to, statements about the benefits of the proposed transaction, including anticipated future financial and operating results, T-Mobile’s and the joint venture’s objectives, expectations and intentions, the accounting treatment of the proposed transaction, and the expected timing of completion of the proposed transaction. There are several factors which could cause actual plans and results to differ materially from those expressed or implied in forward-looking statements. Such factors include, but are not limited to, the failure to satisfy any of the conditions to the proposed transaction on a timely basis or at all; the occurrence of events that may give rise to a right of one or both of the parties to terminate the definitive agreements; adverse effects on the market price of T-Mobile’s common stock and on T-Mobile’s operating results because of a failure to complete the proposed transaction in the anticipated timeframe or at all; negative effects of the pendency or consummation of the proposed transaction on the market price of T-Mobile’s common stock and on T-Mobile’s operating results; the risk of litigation or regulatory actions; and other risks and uncertainties detailed in T-Mobile’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, including in the sections thereof captioned “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements,” as well as in its subsequent reports on Form 8-K and Form 10-Q, all of which are filed with the SEC and available at www.sec.gov and www.t-mobile.com. Forward-looking statements are based on current expectations and assumptions, which are subject to risks and uncertainties that may cause actual results to differ materially from those expressed in or implied by such forward-looking statements. Given these risks and uncertainties, persons reading this communication are cautioned not to place undue reliance on such forward-looking statements. T-Mobile assumes no obligation to update or revise the information contained in this communication (whether as a result of new information, future events or otherwise), except as required by applicable law. References to our and the SEC’s website are inactive textual references only. Information contained on our and the SEC’s website is not incorporated by reference in this communication and should not be considered to be a part of this communication.

Legal Disclaimer

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT Infrastructure VI will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.


Citigroup Global Markets Inc. is serving as T-Mobile’s exclusive financial adviser for the transaction.The Bank Street Group and Simpson Thacher & Bartlett LLP were exclusive advisors to Lumos and EQT Infrastructure III for the transaction.

Kirkland & Ellis LLP, JP Morgan, and Goldman Sachs & Co. LLC advised EQT Infrastructure VI for the transaction.

T-Mobile US, Inc. Media Relations

T-Mobile Investor Relations Contact

EQT Press Office

About T-Mobile

T-Mobile US, Inc. (NASDAQ: TMUS) is America’s supercharged Un-carrier, delivering an advanced 4G LTE and transformative nationwide 5G network that will offer reliable connectivity for all. T-Mobile’s customers benefit from its unmatched combination of value and quality, unwavering obsession with offering them the best possible service experience and undisputable drive for disruption that creates competition and innovation in wireless and beyond. Based in Bellevue, Wash., T-Mobile provides services through its subsidiaries and operates its flagship brands, T-Mobile, Metro by T-Mobile and Sprint. For more information please visit: https://www.t-mobile.com

About EQT

EQT is a purpose-driven global investment organization with EUR 242 billion in total assets under management (EUR 132 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership. More info: www.eqtgroup.comFollow EQT on LinkedIn, X, YouTube and Instagram.

About Lumos

Lumos provides 100% Fiber Optic Internet, whole-Home Wi-Fi, voice and streaming services, to more than 300,000 homes and businesses across Virginia, North Carolina, and South Carolina. We believe that the possibilities of tomorrow cannot be built on the infrastructure of yesterday. That’s why we’re building a 100% Fiber Optic network from the ground up for families, businesses, and communities, backed by local, expert customer service. An Internet built for that most hopeful of all things – the future. Because whatever the future holds, we make it faster. Learn more at www.LumosFiber.com

Categories: News


DIF Capital Partners enters into exclusive negotiations to acquire TDF fibre business


DIF Capital Partners, a leading global infrastructure fund manager, has entered into exclusive negotiations with TDF and La Banque des Territoires to acquire the fibre business of the TDF Group, the operator of infrastructure and digital networks.

TDF Fibre is a French fibre business owned by TDF (79.5%) and Banque des Territoires (20.5%). The company owns four public-initiative networks under concession agreements that are all fully operational: Val d’Oise Fibre, Val de Loire Fibre, Anjou Fibre and Faucigny Glières Fibre, and one wholly-owned network: Yvelines Fibre. Its expertise in operating very high-speed networks with quality of service ranks among the best in France according to recent ARCEP studies.

TDF fibre

DIF Capital Partners, via its DIF Infrastructure VII fund, is negotiating to invest in TDF Group’s fibre business by acquiring the entire share capital in (i) TDF Fibre and (ii) Lumière Fibre, a newly incorporated vehicle entirely held by TDF and to which TDF is expected to contribute its engineering, maintenance, fibre roll-out and construction services business units. Following the planned transaction, the TDF Group will continue to support TDF Fibre, particularly in terms of network supervision.

The investment being considered by DIF Capital Partners will enable TDF Fibre to continue to bring its recognized expertise to the benefit of local authorities, individuals and businesses, as well as to pursue development opportunities in existing and new territories.

This transaction, which is being negotiated, will require the implementation of the information and consultation process with the relevant French employee representative bodies, and could be completed by the end of 2024, subject to satisfaction of the customary conditions precedent.


About DIF Capital Partners

DIF Capital Partners is an infrastructure fund manager with more than EUR 17 billion of assets under management. DIF was founded in 2005 and has a leading position in managing mid-market investments, primarily in Europe and North America.

DIF follows two strategies: its traditional DIF funds invest in infrastructure projects and companies in the energy transition (incl. renewables) and utilities sector, as well as concessions. The firm’s CIF funds invest in companies with strong growth potential that are active in infrastructure sectors such as digital infrastructure, energy transition and sustainable transportation.

With a team of over 240 professionals in 12 offices, DIF offers a unique market approach combining global presence with the benefits of strong local networks and investment capabilities. DIF is located in Amsterdam, Frankfurt, Helsinki, London, Luxembourg, Madrid, Milan, New York, Paris, Santiago, Sydney and Toronto.

In September 2023, CVC, a leading global private markets manager, announced that it would be acquiring a majority stake in DIF Capital Partners. Closing of the transaction is subject to regulatory approvals and is expected in Q2 2024.

For more information, please visit www.dif.eu or follow us on LinkedIn.

About TDF

As a transparent and impartial operator, TDF helps digital firms in mainland France and French overseas territories meet their strategic transmission goals. For radio and DTT broadcasting, mobile ultra high-speed broadband coverage and rolling out optical fibre, TDF brings clients in-depth operational expertise, a mix of unique and ground-breaking technology and an exceptionally widespread local presence. In an ever more connected world, over the last four decades or more TDF has enabled telecoms and media companies to connect the French regions and people, backed by its 8,600 sites, everywhere and faster. www.tdf.fr

About Banque des Territoires

Banque des Territoires is one of the entities of the Caisse des Dépôts. Banque des Territoires brings together in-house expertise for local areas. As a one-stop shop for customers, it acts alongside all local stakeholders: local authorities, local public-sector enterprises, social housing bodies, legal professions, businesses and financial players. Banque des Territoires assists them in the implementation of their public interest projects with a continuum of offers : advisory, loans, equity, bank services, consignments and special deposits. It has been set up to serve the interests of all local areas alike, from rural municipalities to large cities, with the ambition of maximizing its impact notably on ecological transformation and social and regional cohesion. The 37 territorial offices of Banque des Territoires ensure the implementation of its action across all metropolitan and overseas territories. www.banquedesterritoires.fr 


Press contacts:

DIF Capital Partners: press@dif.eu

TDF: Pauline Mauger. Tel.: 07 70 01 18 27 – pauline.mauger@tdf.fr

Banque des Territoires – Groupe Caisse des Dépôts: Nathalie Police. Tel.: 06 07 58 65 19 – nathalie.police@caissedesdepots.fr

Categories: News


Triton to acquire Visser & Smit Hanab, VW Telecom and Homij


Frankfurt (Germany), Rijssen (the Netherlands), 5 April 2024 – Funds advised by Triton (“Triton”) have signed an agreement to acquire 100% of VolkerWessels Verbindingen en Netwerken B.V. (“V&N Group”), a company indirectly fully owned by Koninklijke VolkerWessels B.V. (“VolkerWessels”) and controlling the entities Visser & Smit Hanab B.V., VW Telecom B.V. and Homij Technische Installaties B.V. (the VolkerWessels Energy, Telecom and Technical Installation companies cluster). The transaction is still subject to the advice of the central works council of VolkerWessels and customary regulatory approvals. Other terms and conditions of the transaction are not disclosed. Completion of the transaction is expected to take place in Q3 of 2024.

V&N Group is a leading multi-utility service provider with dedicated focus on sustainable and digital solutions in the fields of energy & utility, connectivity and building installation services. The company is present throughout the Netherlands and each of its entities are partners of choice for the main public and private clients in their respective business areas. The Group’s 3,100 employees offer integrated solutions including feasibility studies, advice, design, installation, realization, and maintenance throughout the Netherlands and in Germany.

VolkerWessels took the decision to pursue a sale of its Energy, Telecom and Technical Installation companies cluster following a strategic review which resulted in the decision to focus on its activities in construction & real estate development in the Netherlands and Germany and its infrastructure activities in the Netherlands, the UK and North America. 

Triton has a 25-year track record of successfully building and growing its investments businesses in V&N Group‘s sector across Europe with investments in OCU Group and EQOS among others. The firm is also an experienced investor in the Netherlands, having invested in and significantly supported the growth of companies such as technical services provider Unica. Triton is acquiring V&N Group with a strong belief in the growth potential of the company and its long-established customer relationships, which Triton plans to further invest in. The acquisition builds on Triton’s established reputation as a reliable new home and a good cultural fit for corporate carve-outs as well as family-owned businesses.

Koos van de Linde, Investment Advisory Professional at Triton said:
 “We have been really impressed with the track record of V&N Group and its management team under the stewardship of VolkerWessels, which has been instrumental in helping accelerate the energy transition, digitalization, and housing needs of the Netherlands. We look forward to working with the management and employees of V&N Group in their next phase of growth and to continue building on the strong relationship between V&N Group and VolkerWessels.”

Stanley Maas, CEO of V&N Group said: “I am looking forward to accelerate the growth necessary to address the opportunities arising from the energy and digitization transition with Triton and I am convinced that the transaction will be beneficial to our employees, clients and other stakeholders.” 

VolkerWessels has been advised by ABN AMRO Corporate Finance, ING Corporate Finance and De Brauw. Triton has been advised by Emendo Capital and Clifford Chance.

About VolkerWessels

VolkerWessels is a leading, international company with a focus on construction and infrastructure. The company operates in the Netherlands, the United Kingdom, North America, and Germany and has a total of more than 130 different operating companies.

For further information: www.volkerwessels.com

About Triton

Founded in 1997 and owned by its partners, Triton is a leading European mid-market sector-specialist investor. Triton focuses on investing in businesses that provide mission critical goods and services in its three core sectors of Business Services, Industrial Tech, and Healthcare.

Triton has over 200 investment professionals across 11 offices and invests through three complementary “All Weather” strategies: Mid-Market Private Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit.

For further information: www.triton-partners.com

Press Contacts


Anja Schlenstedt

Email: media@triton-partners.com


Peter Zeylmaker

Phone: +31 653 911 572

Email: pzeylmaker@volkerwessels.com

Categories: News


Orange and MASMOVIL Complete Transaction to Form the Leading Operator in Spain in Terms of Customers


Paris and Madrid

  • The 50:50 Joint Venture between Orange Spain and MASMOVIL starts operations from today and will bring substantial benefits to Spanish consumers and enterprises.
  • The Joint Venture is expected to generate synergies of more than 490m euros / year from four years after closing onwards.
  • Jean François Fallacher has been appointed non-executive Chairman of the JV and Meinrad Spenger as its CEO.

Orange and MASMOVIL announce today the creation of a new Joint Venture, completing the agreement to combine their operations in Spain . Orange and MASMOVIL’s shareholders each own a 50% stake of the JV, with equal governance rights in the combined entity.

With over 37 million broadband and mobile lines, the new entity becomes the leading player on the Spanish telecoms market in terms of customers, with the ambition to lead the market in talent, user experience, innovation, environmental and social impact, and fiber and mobile coverage. Its formation creates a sustainable player with the financial capacity to continue investing in next-generation networks for the benefit of the market, consumers and enterprises in Spain.

According to revised estimates, the new company is expected to generate synergies of more than 490m euros per year by the fourth year after closing. Based on preliminary closing accounts, the respective proceeds at closing will be approximately €4.4bn for Orange and approximately €1.65bn for MASMOVIL shareholders.

The companies (Orange Spain and MASMOVIL) will operate as a single entity: the accounts of both companies will be consolidated at the level of a newly registered legal entity (the JV). As planned, the new company will be operational from today.

Jean François Fallacher, CEO of Orange France, has been appointed non-executive Chairman of the new company. Jean François, who was previously CEO of Orange Spain between September 2020 and April 2023, has extensive experience of the Spanish market.

The Board of Directors of the Joint Venture has also confirmed the appointment of Meinrad Spenger, CEO of MASMOVIL since 2006, as CEO, and Alberto Castañeda as Secretary of the Board of Directors. Ludovic Pech and Germán López have also been confirmed as CFO and COO, respectively.

“It is a huge honour and an enormous responsibility to serve our more than 30 million customers in Spain. We are going to try hard to ensure that they continue to be the most satisfied clients in our country. With our JV, the Spanish telecom market has now a stronger company with the capacity to innovate and invest and to serve our clients in the residential and business segment as their trustful partner,” said Meinrad Spenger, CEO of the JV.

Christel Heydemann, CEO of Orange, said “Today’s announcement is an important stepping-stone in the deployment of Orange’s long-term strategic plan in Europe. By creating a stronger and more sustainable player, the joint venture launched today will help drive innovation and investment in high-speed broadband and digital services in Spain. This is clearly a positive step forward in our overall vision for a strong and thriving telecoms industry in Europe.”

The advisory teams for the parties include:

  • Lead financial advisors: Goldman Sachs Bank Europe SE to MASMOVIL and Lazard Frères to Orange.
  • Lead debt advisor: BNP Paribas.
  • Joint rating advisors: BNP Paribas and Société Générale.
  • Freshfields to MASMOVIL and Jones Day to Orange, as legal M&A advisors.
  • Freshfields, Latham and Watkins, Perez Llorca and Gide, as competition law advisors.
  • Simpson Thacher & Bartlett, together with Evergreen Legal, as legal counsel to the Borrowers, for all financing matters related to the transaction, and Linklaters as legal counsel to the Lenders.
  • PWC to MASMOVIL and EY to Orange, as Due Diligence partners.
  • Also acted as financial advisors to MASMOVIL: BNP Paribas, Evercore, JP Morgan and Santander.
  • Also acted as joint debt advisor: Rothschild & Co.

About MASMOVIL Group
MASMOVIL Group is one of the most outstanding operators in Spain in terms of growth over the last few years and offers fiber, mobile, TV, and other new services such as energy, health, alarms, or financial services, for residential customers, businesses, and operators.

The Group offers its customers access to the largest FTTH coverage in Spain with more than 29 million marketable households and 3G, 4G and 5G mobile networks to 98.5% of the Spanish population thanks to its hybrid strategy combining its own and third parties infrastructures. MASMOVIL has also launched its 5G services, which are already available in 2,400 cities in Spain. The Group has more than 16M customers. MASMOVIL has been awarded on several occasions as the best broadband and fibre optic operator.

The Group has achieved net zero carbon emissions for scopes 1 and 2 since 2020 -including the Euskaltel Group in the calculation-, positioning it as the first telecommunications operator in Europe to achieve such an achievement and the one with the lowest absolute residual level of emissions. It is the first telecommunications operator in Europe to become a B Corp company and has a strong commitment to creating a positive environmental and social impact.

MASMOVIL Group is also leading sustainability and ESG in Spain achieving 5 ESG ratings in a short period of time with very high standings from prestigious organizations as S&P, Morning Star Sustainalytics, Sustainable Fitch, CDP and Clarity.

MASMOVIL is participated by Cinven, KKR and Providence Equity Partners since November 2020.


Categories: News


Platinum Equity Invests in TAK Communications


Firm to partner with TAK’s current shareholders and management team, which will continue as equity partners in the business

Transaction extends momentum of Platinum Equity’s Small Cap team

Platinum Equity Invests in TAK Communications

LOS ANGELES (March 22, 2024) – Platinum Equity announced today a significant investment in TAK Communications, a national provider of communications and broadband infrastructure services. Financial terms were not disclosed.

Headquartered in Sioux Falls, South Dakota, TAK provides fiber and broadband network services, last-mile connectivity and on-premises technology deployment solutions for the broadband and telecommunications industries.

The company was founded in 2004 by CEO Micah Mauney and established itself as a regional provider of on-premises fulfillment services, including residential and commercial network equipment installations and support. In recent years, TAK has grown substantially and diversified its offerings in more than 40 states to include last-mile cable and fiber “drop” services (aerial and underground), network maintenance, new construction network build outs, and design and engineering services.

“TAK has built an impressive business with national scale that today provides full end-to-end capabilities across the network deployment value chain,” said Platinum Equity Co-President Jacob Kotzubei. “Fiber is the backbone of all key technologies used to deliver broadband internet and wireless connectivity and we believe that demand for bandwidth will only continue to grow.”

Platinum Equity has significant experience investing in technology and telecommunications businesses. The firm’s current portfolio includes Ingram Micro, one of the world’s largest providers of technology, mobility and cloud platform solutions.

The TAK investment was led by Platinum Equity’s Small Cap team.

“The broadband communications services space is highly fragmented, and TAK has significant room to grow both organically and through additional acquisitions,” said Platinum Equity Managing Director Dan Krasner. “Private and public investment is projected to continue flowing into the sector over the next few years, which we believe will only make TAK’s value proposition more essential to its current and future broadband customers.”

The company’s owners and management retained a significant ownership stake in TAK and continue to lead the company.

“Platinum has extensive experience helping founder-owned businesses leverage our operational expertise and M&A capabilities to maximize their potential,” added Krasner. “We are excited to work alongside Micah and the management team, and to bring our full toolkit in building TAK’s future success.

“I am proud of everything we have built over the last 20 years and am confident Platinum will be an outstanding partner for our next phase of growth,” said Mauney. “Platinum’s operations expertise is well suited to help us take the next step in delivering the very best customer experience, growing our amazing team members, and strengthening our goal in building America’s best communication services provider for our current and future customers.”

About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $47 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 28 years Platinum Equity has completed more than 450 acquisitions.

About TAK Communications
TAK Communications is a leading telecommunications and broadband service provider that offers full value chain communications services and solutions to its customers across the US, from project management, engineering, and construction to drops, fulfilment and door-to-door sales. TAK Communications prides itself on being a trusted business partner for its customers in the telecommunications sector, providing solutions that exceed their expectations. For more information, visit takcommunications.com.


  • Share
  • twitter
  • linkedin

Categories: News


Kinnevik agrees to sell its entire shareholding in Tele2 to an investment vehicle jointly controlled by iliad and NJJ

Kinnevik AB (publ) (“Kinnevik”) today announced that it has agreed to sell its entire shareholding in Tele2 AB (publ) (“Tele2”) to Freya Investissement, an investment vehicle jointly controlled by the European telecommunications group iliad and its Chairman and founder Xavier Niel through NJJ Holding (“iliad/NJJ”) for a total consideration of SEK 13bn. The shareholding in Tele2 will complement iliad/NJJ’s existing European telecommunications operations across France, Italy, Poland, Switzerland, Monaco, Ireland, Cyprus and Malta. The transaction will be completed in three steps with a first close of SEK 2.9bn. The two remaining steps are subject to iliad/NJJ receiving necessary regulatory clearances and in relation to the third step also to iliad/NJJ reclassifying Tele2 Class A shares to Class B shares to the effect that iliad/NJJ following completion of the transaction will hold less than 30 percent of the voting interest in Tele2.

Kinnevik has agreed to sell its entire shareholding in Tele2 consisting of 20.7 million Class A shares and 116.9 million Class B shares to iliad/NJJ. Proceeds amount to a total of SEK 13bn, corresponding to SEK 93.0 per Tele2 Class B share and SEK 101.0 per Tele2 Class A share, an average blended purchase price of SEK 94.2 per Tele2 share that implies a 13 percent premium in relation to the closing price of the Tele2 Class B share on Nasdaq Stockholm as per 23 February 2024.

The transaction will be completed in three steps:

1.    iliad/NJJ will acquire 31.3 million Class B shares in Tele2. After completion of this first step iliad/NJJ holds 4.5 percent of the economic interest and 3.5 percent of the voting interest in Tele2. Proceeds to Kinnevik in this first step amount to SEK 2.9bn.

2.    iliad/NJJ will acquire 14.2 million Class A shares and 85.5 million Class B shares in Tele2 following foreign direct investment clearances in Sweden, Latvia and Lithuania, which are expected to be received during the second quarter of 2024. After this second step, iliad/NJJ will hold 18.8 percent of the economic interest and 28.8 percent of the voting interest in Tele2. Proceeds to Kinnevik in this second step amount to SEK 9.4bn.

3.    iliad/NJJ will acquire Kinnevik’s remaining 6.5 million Tele2 Class A shares after receipt of necessary regulatory clearances, and subject to reclassifying Tele2 Class A shares into Class B shares to the effect that iliad/NJJ following completion of the transaction will hold less than 30 percent of the voting interest in Tele2. Such clearances and reclassification are expected to be received and completed during the third quarter of 2024. After this third step, iliad/NJJ will hold 19.8 percent of the economic interest and less than 30 percent of the voting interest in Tele2. Proceeds to Kinnevik in this third step amount to SEK 0.7bn.

As a result of the transaction, Kinnevik’s cash position will be significantly strengthened, and Kinnevik’s Board of Directors will undertake a capital structure review in consultation with major shareholders.

Georgi Ganev, CEO of Kinnevik, commented: “Through this transaction, Tele2 gains a new lead shareholder in the combination of iliad and NJJ, with a longstanding track record in the European telecoms sector as an early pioneer in France and as a business builder at scale across multiple European markets. Founded by Jan Stenbeck in the early 1980’s, Tele2’s strong value creation has been instrumental in building the Kinnevik of today, fuelling its historic dividend flow to shareholders as well as Kinnevik’s strategic pivot into a leading European growth investor for which we are proud and grateful.”

Georgi Ganev continued: “After completion of this transaction, Kinnevik will hold a very strong net cash position. We will deploy the capital with patience and focus to bring further clarity to our equity story and value creation to our shareholders. We will continue executing on our priority to concentrate our portfolio towards our most promising and resilient companies, and review our capital structure in consultation with major shareholders.”

Thomas Reynaud, Group CEO of iliad and director of Freya Investissement, commented: “The iliad Group and the Tele2 Group have a lot in common. We both believe in the power of innovation and the importance of an entrepreneurial mindset. Our business sector in Europe is highly demanding. So, we have a great deal of respect for what Tele2’s shareholders, management and teams have achieved, and we’re delighted that Kinnevik has chosen Freya as Tele2’s new reference shareholder. We look forward to contributing to the next chapter of Tele2’s growth story.”
This communication contains certain forward-looking statements concerning our intentions, beliefs or current expectations. Such statements are identified by including terms such as “intent”, or similar expressions. Such statements are subject to a number of important risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements. Factors, including risks and uncertainties, that could cause these differences include, but are not limited to: market growth and volatility and regulatory changes and developments. Any forward-looking statements speak only as of the date hereof. Neither Kinnevik nor Tele2 undertake any obligation to update any forward-looking statements.

Categories: News


Omnispace Expands Spectrum Portfolio with Authorization to Operate Mobile Satellite System in Brazil

TDF Ventures logo

Brazil’s National Telecommunications Agency (ANATEL) Clears Omnispace’s Brazilian Subsidiary to Sell Mobile Satellite Capacity in Brazil

TYSONS, Va.Feb. 19, 2024 /PRNewswire/ — Omnispace LLC, the company redefining global mobile connectivity, today announced that on December 14, 2023Brazil’s National Telecommunications Agency (ANATEL) approved its subsidiary Omnispace Comunicações Brasil Ltda’s request to operate its non-geostationary satellite (NGSO) system nationwide.  After conducting a public consultation and technical reviews, ANATEL determined that Omnispace meets the requirements to utilize the S-band (1980-2010 MHz / 2170-2200 MHz) in line with the ITU Radio Regulations global Mobile Satellite Service (MSS) allocation and the 3rd Generation Partnership Project (3GPP) n256 band specifications.

This regulatory milestone adds to Omnispace’s growing global portfolio of countries where it has achieved regulatory approvals and spectrum access. In total, Omnispace now has market access to reach more than 735 million people across Latin AmericaAsiaAfrica and the Middle East. Together with partners that have spectrum access in 3GPP 5G NTN bands, Omnispace is poised to deliver access in all major international markets as part of a next generation global 5G NGSO system.


Since 2019, Omnispace Comunicações Brasil has demonstrated its NGSO MSS and IoT capabilities on its current system through a series of experimental licenses in Brazil. The pilot projects included showcasing MSS on a ship that journeyed more than 44,000 kilometers on the Amazon and Madeira Rivers to provide connectivity throughout those remote areas that do not have access to terrestrial mobile connectivity.  Omnispace also conducted vehicle tracking and Internet of Things (IoT) pilot projects in the state of São Paulo to test direct-to-device (D2D) communications. Omnispace is the first company to successfully conduct mobile satellite tests in the S-band in Brazil and will now be the first satellite operator licensed in Brazil for this band with an operational system.

“We look forward to providing MSS and IoT services in Brazil, which is at the forefront of the global stage for creating a harmonized S-band MSS ecosystem,” said Ram Viswanathan, President and CEO for Omnispace LLC. “This approval by ANATEL is a key component in accelerating our vision to unlock the full potential of direct-to-device connectivity globally leveraging standards-based technology. Brazil is part of a global map of countries and spectrum access that we have assembled, putting us closer to creating the necessary foundation for an exceptional voice, text, and data experience.”

“Obtaining an authorization to operate in Brazil has been one of my primary objectives since I first joined Omnispace.  We are grateful for the diligence, transparency, technical capabilities, and global leadership of Brazil’s regulatory authority, ANATEL, in supporting spectrum efficiency and technologies that will benefit Brazilian consumers, businesses and the economy,” said Mindel De La Torre, Chief Regulatory and International Strategy Officer of Omnispace LLC. “We eagerly anticipate connecting rural and remote communities, and fostering economic, environmental, and educational opportunities through the widespread expansion of satellite communications across both the country and the region.”

Learn more about Omnispace’s plans to offer enhanced 3GPP standards-based 5G non-terrestrial network (NTN) global, mobile direct-to-device connectivity at Omnispace.com.

About Omnispace, LLC 

Headquartered in the Washington D.C. area, and founded by veteran telecommunications and satellite industry executives, Omnispace is redefining mobile connectivity for the 21st century. By leveraging 5G technologies, the company is combining the global footprint of a non-geostationary satellite constellation with the mobile networks of the world’s leading telecom companies to bring an interoperable “one network” connectivity to users and IoT devices anywhere on the globe.

Learn more at: Omnispace.com and follow on LinkedIn or Twitter @omnispace.

Media contact:

Marie Knowles


SOURCE Omnispace

Categories: News


Tigo Colombia To Sell Towers To KKR


Luxembourg, January 24, 2024 – Millicom (NASDAQ: TIGO) announces today that its subsidiary Tigo Colombia has agreed to sell approximately 1,100 wireless communications towers to affiliates of investment funds managed by KKR, a leading global investment firm. KKR plans to work in partnership with NEXO LatAm, a digital infrastructure platform that supports the implementation of KKR’s infrastructure strategy throughout Latin America.

As part of the transaction, Tigo Colombia and KKR have entered into a long-term agreement whereby KKR will lease wireless communications towers to Tigo Colombia to support its wireless networks. The exact number of towers will be determined once the various closings have taken place, which are subject to customary closing conditions.

Mauricio Ramos, CEO and Chairman of the Board of Millicom, said: “This transaction with KKR, a leading digital infrastructure franchise with deep sector expertise and commitment to the region, is another step towards crystallizing the value of our tower sites across Latin America, simplifying our business, and allowing us to focus on servicing our customers. This transaction enhances our operational and capital efficiency in Colombia, with long-term lease obligations denominated in Colombian pesos, consistent with our objective of increasing our proportion of financing in local currency.”

Waldemar Szlezak, a partner on KKR’s Infrastructure team, said: “KKR seeks to develop the telecommunications industry in Latin America through best-in-class mission-critical assets such as fiber, towers and small cells. This acquisition – along with KKR’s fiber investments in Chile, Colombia and Peru – underscores KKR’s commitment to its digital infrastructure platform in LatAm. This important agreement with Tigo is in line with our strategy of long-term partnerships with leading companies in the region.”

KKR is making the investment through its KKR Global Infrastructure Investors IV fund.

For further information, please contact:

Sofía Corral, Communications Director
KKR: Media@kkr.com
Michel Morin, VP Investor Relations

About Millicom

Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of fixed and mobile telecommunications services in Latin America. Through our TIGO® and Tigo Business® brands, we provide a wide range of digital services and products, including TIGO Money for mobile financial services, TIGO Sports for local entertainment, TIGO ONEtv for pay TV, high-speed data, voice, and business-to-business solutions such as cloud and security. As of September 30, 2023, Millicom, including its Honduras Joint Venture, employed approximately 19,000 people and provided mobile and fiber-cable services through its digital highways to more than 45 million customers, with a fiber-cable footprint over 13 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.


Categories: News


KKR To Invest $400 Million In Leading Neutral Subsea Telecommunications Cable Services Provider OMS Group


Transaction builds on KKR’s strong momentum in Southeast Asia digital infrastructure

SINGAPORE–(BUSINESS WIRE)– KKR, a leading global investment firm, and the parent company of OMS Group (or the “Company”), a leading telecom infrastructure company and provider of subsea cable services, today announced the signing of definitive agreements under which KKR will commit $400 million in a tailored solution for OMS Group. This marks KKR’s latest digital infrastructure investment in Southeast Asia, underlining its conviction in the role digitalization plays in the region’s burgeoning internet economy.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231029552367/en/

Founded in 1988, OMS Group is a neutral provider of integrated solutions for subsea telecommunications cable services, including installation and maintenance projects. The Company maintains a more-than-three-decades track record of providing mission-critical services to clients including major subsea equipment providers, large-scale cloud service providers, and telecom companies, and is internationally accredited for its quality management system.1 Today, OMS Group is one of the largest independent operators in this sector, with a diverse fleet including cable ships and cable barges, as well as cable landing stations serving the global telecommunications market.

KKR’s investment positions OMS Group well to accelerate its growth, including through expanding its fleet size and capabilities and investing in cable landing stations and subsea cable routes to serve global fast-growing cross-border data transmission trends and the demand for comprehensive subsea cable services.

Mr Projesh Banerjea, Director, Infrastructure at KKR, said, “OMS Group has established itself as a market leader with a longstanding track record of success and growth in Southeast Asia. As demand for greater connectivity across the region continues to grow, we are delighted to work closely with Datuk Lim, Mr Ronnie Lim, and the highly rated OMS Group team to meet this critical need. Our tailored solution for OMS Group also creates strong adjacencies with KKR’s recent digital infrastructure investments and builds on long-term secular tailwinds in the region, including increased data consumption, enterprise cloud needs, a focus on digitalization by governments, and a booming digital economy. We look forward to sharing our global network and infrastructure expertise to take OMS Group to its next stage of growth.”

Datuk Soon Foo Lim, OMS Group’s Chairman, said, “OMS Group and KKR share the same vision and appreciation of the critical data infrastructure OMS Group builds and maintain for its clients. We look forward to working with Mr David Luboff, Mr Projesh Banerjea and the world-class KKR team in advancing OMS Group’s growth plans.”

Commenting on KKR’s investment, Mr Ronnie Lim, Group CEO, OMS Group, said, “KKR’s investment in OMS Group underscores the value of OMS Group’s capabilities, which provides immense economic value to communities, corporations, and countries around the world by constructing and maintaining critical subsea data infrastructure. Together with KKR’s strong track record in supporting and investing in data infrastructure assets and its platform-building expertise, OMS Group is in a stronger position to support its clients to build and maintain greater global connectivity.”

KKR is making this investment primarily from its Asia infrastructure strategy. This transaction adds to KKR’s track record of investing in digital infrastructure regionally and globally. Past KKR investments in Southeast Asia digital infrastructure have included the regional data center platform of Singtel, a leading Asian communications technology group headquartered in Singapore, and Pinnacle Towers, a digital infrastructure platform in Asia with a strong focus on the Philippines. Globally, KKR’s investments in digital infrastructure have included CyrusOne, a global leader in the development and operation of sustainable, scalable, high-availability and flexible data center solutions, and Global Technical Realty, a build-to-suit and roll-up acquisition data center platform in Europe.

The transaction is expected to be completed by Q1 of 2024, subject to customary closing conditions. Additional details of the transaction are not disclosed.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Optic Marine Group

OMS Group is a global, neutral and integrated telecommunications infrastructure company with a wide range of services covering subsea telecommunications installation and maintenance, digital infrastructure ownership and digital Infrastructure engineering, procurement, maintenance and construction (EPC) under our Interconnect Managed Services division. Our capabilities in submarine fiber-optic cable systems, include installation and repair of deep and shallow water subsea fiber-optic cable systems, permitting in principle acquisitions, project management, direct shore ends, engineering and subsea surveys. We have a strong track record in constructing and owning cable landing stations and terrestrial dark fiber in Southeast Asia.

1 ISO 9001:2015 as certified by the Joint Accreditation System of Australia and New Zealand (JAS-ANZ)

Wei Jun Ong
KKR Asia Pacific
+65 6922 5813

Derek Lim
OMS Group
+603 5569 3881 ext 137

Source: KKR

Categories: News


KKR Provides £75 million Financing Facility to TalkTalk


NEW YORK & LONDON–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that funds and accounts managed by its credit business have agreed to provide a £75 million non-recourse financing facility to TalkTalk, a leading value for money connectivity provider in the UK. The facility, which is collateralized by certain accounts receivables originated by TalkTalk and its subsidiaries, replaces a prior £75 million financing facility, which matures in September 2023.

The new facility will give TalkTalk access to additional liquidity for a term of approximately three years.

“We are pleased to use our experience in receivable financing globally to support TalkTalk with capital that will help the company continue to grow and connect consumers and businesses across the United Kingdom,” said Giacomo Picco, a Managing Director at KKR.

Demica served as advisor to TalkTalk and will act as the reporting and calculation agent for the program.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About TalkTalk​ Group

TalkTalk is the UK’s leading value for money connectivity provider. It believes that simple, affordable, reliable and fair connectivity should be available to everyone.

From its HQ in Salford, TalkTalk is rolling out the UK’s latest fibre technology, bringing 100% full fibre directly into homes and businesses across Britain.

KKR Americas:
Julia Kosygina
+1 212-750-8300

Annabel Arthur
+44 20 7839 9800

Source: KKR

Categories: News