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

Cell phone or mobile service tower in forested area of West Virginia providing broadband service

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  • 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.
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