Telekom took a lot of time with the partial sale of its radio towers.
But the long wait was worth it.
The steel masts and roof systems are in greater demand among investors than ever before.
The rental of the antenna sites is a fairly risk-free and comparatively lucrative business.
Compared to 2018, the assessment of the Telekom mast division at the time has roughly tripled.
Perhaps there would have been even more if CEO Tim Höttges had attempted a merger with a European radio tower operator that would promise industrial advantages.
But there is probably not enough time to get through what is probably a very lengthy merger review process.
The enormous mountain of debt is too pressing for that, especially in view of the fact that interest rates are rising again.
The stock exchange had obviously promised more, after all the radio towers are something like the last silverware of Telekom.
Höttges is therefore well advised to continue to keep it in hand.
Even with a minority share of 49 percent, a lot can be achieved.
Telekom stays in the game.