Brookfield, DigitalBridge Reach Deutsche Telekom Towers Stake Deal

Brookfield Asset Management Inc. and DigitalBridge Group Inc. have reached an agreement for a majority stake in Deutsche Telekom AG’s tower business, people with knowledge of the matter said.

Brookfield teamed up with DigitalBridge Group in a last-minute bid for the stake after its previous partner, Cellnex Telecom SA, dropped out, Bloomberg was first to report. The group bypassed the earlier frontrunner, a KKR & Co.-led consortium, said the people, who asked not to be identified because the information was private.

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