DigitalBridge Buys Dutch Telecom Towers from Liberty Global

In a significant move within the European digital infrastructure sector, a consortium spearheaded by DigitalBridge has finalized an agreement to acquire the tower assets of VodafoneZiggo in the Netherlands. The deal, valued at approximately €669 million (roughly $721 million), underscores the enduring appeal of critical telecommunications infrastructure. This strategic divestiture by Liberty Global is a key component of its broader financial strategy, aimed at optimizing its portfolio and preparing its newly formed Benelux entity, Ziggo Group, for a future public offering.

The transaction positions the Dutch tower portfolio at a multiple of 16.2 times its projected 2025 EBITDA, a valuation that reflects the robust demand for high-quality, revenue-generating infrastructure assets in a mature European market. The Netherlands, with its high internet penetration and advanced digital economy, presents a compelling environment for such investments. This sale aligns with a wider trend of telecommunications operators monetizing their physical infrastructure to unlock capital for network upgrades and strategic growth initiatives.

Proceeds generated from this sale will be directed towards reducing debt obligations within Ziggo Group. This move is crucial as Liberty Global prepares for the intended listing of Ziggo Group on the Amsterdam Stock Exchange, anticipated around mid-2027. The company has set a target of generating between €1.2 billion and €1.4 billion from non-core asset disposals to bolster its financial standing ahead of this significant market debut.

The acquisition consortium includes not only DigitalBridge, a prominent digital infrastructure investment firm, but also TD Greystone Infrastructure and funds managed by L&G. This collaboration brings together significant capital and expertise, signaling strong confidence in the long-term value and operational potential of the acquired Dutch tower network. The involvement of these established infrastructure investors highlights the attractiveness of the European telecom tower market.

This transaction follows Liberty Global's complete acquisition of Vodafone's stake in their Dutch joint venture in August 2026, which subsequently led to the consolidation of its Benelux operations under the new holding company, Ziggo Group. The sale of these tower assets represents a critical step in streamlining Ziggo Group's operations and enhancing its financial profile in anticipation of its initial public offering.

The Dutch telecommunications market continues to be a focal point for infrastructure investment, driven by increasing data consumption and the ongoing rollout of 5G technology. The sale of VodafoneZiggo's towers by Liberty Global to the DigitalBridge-led group is a clear indicator of the strategic value placed on these essential digital arteries and Liberty Global's proactive approach to portfolio management in preparation for future capital market activities.