Mirror Review Magazine
September 9, 2026
The DigitalBridge acquisition of VodafoneZiggo towers involves a €669 million agreement that would create an independent telecom infrastructure platform across Belgium and the Netherlands. DigitalBridge, L&G and TD Asset Management have agreed to acquire VodafoneZiggo’s passive mobile tower infrastructure and combine it with Belgium Tower Partners.
The transaction values the Dutch tower assets at 16.2 times 2025 EBITDA. It remains subject to regulatory approvals and other closing conditions, with the transaction expected to close in early 2027.
DigitalBridge Acquisition of VodafoneZiggo: What Is Changing?
The transaction will combine VodafoneZiggo’s tower portfolio with Belgium Tower Partners, creating a platform with more than 6,600 sites across Belgium and the Netherlands.
The buyer group consists of the DigitalBridge Strategic Asset Fund, L&G Digital Infrastructure Fund and TD Greystone Infrastructure Fund. The combined platform will have a diversified customer base anchored by VodafoneZiggo and Telenet, alongside other mobile network operators.
The structure is designed to create a larger independent tower platform that can support operators as their network requirements grow. Similar telecom deals are also reshaping how global connectivity infrastructure is organized.
Why the VodafoneZiggo Tower Assets Matter
The VodafoneZiggo tower assets expand the consortium’s footprint into the Netherlands while adding scale to its existing Belgian infrastructure.
Belgium Tower Partners already operates more than 3,600 sites in Belgium, including towers, rooftops and macro sites. Combining the two portfolios would create a larger regional infrastructure base.
The platform is also positioned to support 5G deployment, network densification and mobile network expansion, as operators continue to require additional infrastructure capacity.
Why Liberty Global Is Selling the Towers
Liberty Global plans to use the €669 million proceeds to support Ziggo Group debt reduction.
The sale is part of a wider plan for €1.2 billion–€1.4 billion in non-core asset disposals. Liberty Global is pursuing the sales as it prepares for the intended Ziggo Group 2027 listing in Amsterdam.
Ziggo Group includes Liberty Global’s interests in VodafoneZiggo and Telenet. The planned listing is expected in 2027, making asset sales and balance-sheet management important parts of the preparation.
What the Deal Means for European Telecom Infrastructure
The transaction reflects the continued separation of passive infrastructure from telecom network operations.
For DigitalBridge and its partners, the telecom tower acquisition expands an existing Belgian platform into the Netherlands. For Liberty Global, the sale converts tower infrastructure into capital that can support debt reduction and its wider corporate strategy.
A larger independent platform can also allow multiple mobile operators to use shared infrastructure, supporting network investment without requiring each operator to own every site.
VodafoneZiggo Tower Deal Moves Toward 2027 Closing
The VodafoneZiggo tower deal is not yet complete. The transaction still requires regulatory approvals and other closing conditions. VodafoneZiggo also needs to complete its works council consultation. The transaction is expected to close in early 2027.
If completed, the DigitalBridge acquisition of VodafoneZiggo will create a 6,600-site tower platform across Belgium and the Netherlands. It will give DigitalBridge and its partners a larger independent infrastructure base.
For Liberty Global, the deal provides capital for Ziggo Group’s broader financial strategy. It also supports the company’s planned Amsterdam listing in 2027.
Gurushanth S Jatti
