The following significant changes to the related-party disclosures reported in the consolidated financial statements as of December 31, 2022 were in effect as of March 31, 2023:
Joint ventures. On February 1, 2023, Deutsche Telekom sold 51.0 % of the shares in the cell tower business companies in Germany and Austria (GD tower companies). Since then, the stake retained by Deutsche Telekom of 49.0 % has been included in the consolidated financial statements as a joint venture using the equity method. The carrying amount of the investment amounted to EUR 6.0 billion as of March 31, 2023. Once the transaction was consummated, Deutsche Telekom leased back the majority of the sold passive network infrastructure in Germany and Austria under a sale-and-leaseback agreement with a non-cancellable basic lease term of eight years. As of March 31, 2023, there were lease liabilities to the GD tower companies of EUR 5.0 billion.
For further information on the sale of the GD tower companies, please refer to the section “Changes in the composition of the Group and other transactions.”