Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels, 15.9.2022  
C(2022 ) 6723 final  
PUBLIC VERSION  
BIF V Carlos Aggregator LP  
c/o Brookfield Asset Management  
One Canada Square, Level 25 Canary Wharf  
E14 5AA  London  
United Kingdom  
DigitalBridge Investment Management, LLC  
590 Madison Avenue, 34th Floor  
10022 New York  
United States of America  
Deutsche Telekom AG  
Friedrich -Ebert -Allee 140  
53113 Bonn  
Germany  
Subject : Case M. 10868  – DIGITALBRIDGE / BROOKFIELD / DTAG / JV  
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No 139/20041 and Article 57 of the Agreement on the European 
Economic Area2 
Dear Sir or Madam,  
1. On 24 August  2022 , the European Commission received notification of a propos ed 
concentratio n pursuant to Article 4 of the Merger Regulation, by which the 
undertakings DigitalBridge Group, Inc. (“DigitalBridge”, US), Brookfield Asset 
Managem ent Inc. (“Brookfield”, Canada) and Deutsche Telekom AG (“DTAG”, 
Germany)  will acquire within the meaning of Article s 3(1)(b)  and 3(4) of the Merger 
Regulation joint control ov er the whole of the undertaking DFMG Holding GmbH 
(“DFMG”, Germany), currently ultimately controlled by DTAG. The concentration is 
accomplished by way of purchase of s hares .3 
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009,  the Treaty on 
the Functioning of the European Union ( ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘Community ’ by ‘Union ’ and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used throughout this decision.  
2  OJ L 1, 3.1.1994, p . 3 (the ‘EEA Agreement ’). 
3  Publication in the Official Journal of the European Union No C 333, 1.9.2022, p. 9–10. 

2 2. The business activities of the undertakings concerned  are the following : 
 DigitalBridge is a dedicated, global -scale digital infrastructure investment firm 
listed at the New York Stock Exchange. DigitalBridge is investing across five key 
sectors: (i ) data centres; (ii) cell towers; (iii) fiber networks; (iv) small cells; and 
(v) edge infrastructure,  
 Brookfield is a global asset manager that offers a range of public and private 
investment products and services, and is co -listed on the New York and Tor onto 
stock exchanges. Brookfield’s investment focus is on real estate, infrastructure, 
renewable power, and private equity,  
 DTAG is an integrated telecommunications and information technology service 
provider with activities worldwide in more than 50 countries. DTAG offers fixed 
and mobile telecommunication services, Internet and IPTV products as well as IT 
products to consumers mainly in Europe and the US. In addition, DTAG provides 
telecommunications services to other carriers and internet service pr oviders at the 
wholesale level as well as information and communication technology solutions 
for medium and large -sized customers around the world.  
 DFMG owns and operates passive wireless telecommunications infrastructure 
(i.e., the towers, rooftop sites a nd so -called small cells) in Germany and Austria. 
More specifically, DFMG provides telecommunication infrastructure hospitality 
services (i.e., leasing of space on existing and future mobile network sites) for the 
mobile network operators and broadcasters as well as for digital radio networks of 
public authorities in Germany and Austria.  
3. After examination of the notification, the European Commission has concluded that 
the notified operation falls within the scope of the Merger  Regulation  and of 
paragraph 5 (b) of the Commission Notice on a simplified procedure for treatment of 
certain concentrations under Council Regulation (EC) No 139/2004 .4 
4. For the reasons set out in the Notice on a simplified procedure, the European 
Commission has decided not to oppose the notified operation and to declare it 
compatible with the internal market and with the EEA Agreement. This decision is 
adopted in application of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agre ement . 
For the Commission  
 
 
(Signed)  
Olivier GUERSENT  
Director -General  
                                                 
4  OJ C 366, 14.12.2013, p. 5 .