Vodafone, Orange, Deutsche Telekom rise as they mull tower merger - Bloomberg

European rival telecoms Vodafone (VOD +1.6%), Orange (ORAN +1.9%) and Deutsche Telekom (DTEGY +2.2%) are all higher as they consider merging their mobile towers into one business, Bloomberg reports - the latest move toward consolidation in mobile infrastructure.
Spain's Cellnex (OTCPK:CLLNY -0.6%), already acquisitive in the area, also would be interested in combining its tower assets with those of Deutsche Telekom, according to the report.
It would be the latest development in an industry where once-prized tower assets are being cut loose and/or into separate units to raise cash needed for network investment.
Cellnex is one example, having bought assets from CK Hutchison and Altice Europe in the past 18 months. It also has already struck a limited deal with Deutsche Telekom in the Netherlands.
Vodafone has also moved higher of late amid talk of larger mergers of its UK and Italian divisions.