Proximus is disposing of its 267 transmission towers in Luxembourg for €108 million. The transaction frees up additional resources to finance other activities.
Proximus announces in a press release the sale of Proximus Luxembourg Infrastructure. This subsidiary within the Proximus Group was responsible for managing the 267 transmission masts the telecom operator has in the Grand Duchy. InfraRed is taking over one hundred percent of the shares and consequently all the masts from Proximus for EUR 108 million.
The transaction does not mean that Proximus is moving completely out of Luxembourg. The Luxembourg division will continue to use the masts through a lease agreement to continue mobile services. The telecom operator operates in Luxembourg with the Proximus NXT brand, among others. The transaction is expected to be fully completed by the first quarter of 2025, depending on how quickly regulators give approval.
Divestments
The sale of the transmitter mast infrastructure fits within broader divestment plans of the telecom operator. Proximus has committed to reducing investments in “non-core” activities by EUR 500 million by 2027. The company is now halfway along that path. With this, Proximus wants to free up resources for strategic priorities, such as the further development of its fiber network.
read also