September 7, 2021
Apax Funds and Warburg Pincus have acquired T-Mobile Netherlands from Deutsche Telekom AG and Tele2 AB. The transaction values the company at an Enterprise Value of €5.1bn.
T-Mobile, which operates four brands – T-Mobile, Tele2, Ben, and Simpel – is a European telecommunications operator. T-Mobile currently offers unlimited and nationwide 5G, and has over 700,000 broadband customers.
Søren Abildgaard, CEO T-Mobile Netherlands, said: “Today is a big day for us. We are excited about the path ahead and to work together with Apax and Warburg Pincus over the coming years. We are looking forward to continuing our strategy in the Dutch market, offering superior value to our customers. As such, we remain steadfast in our promise to deliver the best possible customer experience, powered by the best mobile network in the world. We have come a long way and re-positioned T-Mobile as a winning player by driving innovation and change within the market, being the first mobile operator to offer unlimited and nationwide 5G. I am proud of what we as a team have achieved in the past and believe we are today better positioned than ever for the next chapter.”
René Obermann, co-head of Europe and MD of Warburg Pincus Deutschland, commented: ‘’Hats off to the talented people at T-Mobile/Tele2/Ben and Simpel for what they have accomplished! Ultra-fast wireless internet, the most highly regarded customer support and innovative services – at affordable rates. Yet the wireless revolution has only just begun. Over the next decade everyone will be able to remotely participate from anywhere in the world, enjoying an unprecedented virtual experience, and it will be possible for everything to be connected; becoming smarter, more efficient and safer. We will support the company to lead this development and invest even more into people and their skills, next generation networks and digital services, so that customers will ask: ‘’Waarom kunnen andere telecom bedrijven niet zo goed zijn als T-Mobile?’’ (“Why can other telecom companies not be as good as T Mobile?’’)
Gabriele Cipparrone, Partner at Apax, added: “T-Mobile fits perfectly with the Apax Funds strategy of investing in innovative companies with solid fundamentals and strong growth prospects. Thanks to the excellent work of its talented management team and employees, T-Mobile enjoys strong brand recognition and has become the leading mobile operator in the Netherlands, with a growing presence in fixed broadband, leveraging future-proof fibre to the home technology. We look forward to supporting the Company to further accelerate growth and become a leading convergent player, by enhancing its network leadership, growing its fibre to the home customer base and delivering a best-in-class customer service.”