Deutsche Telekom preparing sale of radio tower business in Q1 - Handelsblatt

A crow rests on the GSM mobile phone antennas of Deutsche Telekom AG atop the German telecoms giant’s headquarters in Bonn, Germany, February 19, 2019. REUTERS/Wolfgang Rattay

BERLIN, Dec 19 (Reuters) – Deutsche Telekom (DTEGn.DE) hopes to sell its radio tower business as soon as the first quarter of next year, Handelsblatt reported on Sunday, citing unnamed sources familiar with the matter.

The telecoms business would be open for offers for a minority or majority stake, the German newspaper reported, estimating the valuation of the division at up to 20 billion euros ($22.48 billion). The company aims to have a sale in progress by the end of the first quarter of next year, it said.

Deutsche Telekom did not immediately respond to a request for comment on the report.

CEO Tim Hoettges said in November he was open to…