Vodafone Group announced a planned minority stake of its European transmitters’ division. IPO will be one of the largest primary public offerings in the region this year. Vantage Towers will start trading on the stock exchange by the end of March according to Vodafone’s statement. The company did not provide any details on the size of the offer.
Listing Vantage Towers is a key part of Vodafone CEO Nick Read's strategy to capitalize more on the assets owned by the UK telecoms giant, which has been hit by more competition, regulation and a pandemic.
"According to our calculations, there are another 170,000 transmitters in the whole of Europe, which are not in the commercial model, but are still rather owned by operators," said Read. "We are exploring these opportunities and will work with operators as soon as they decide to transfer them. The market is moving, so we expect the activity to take place in the second half of the year."
Performance of Vodafone’s shares (Tradingview.com)