Vodafone Group has launched a new subsidiary that will oversee its cell tower infrastructure in Spain. According to El Economista, Vodafone Towers Spain will preside over a network of 9,700 towers and compete with the likes of Cellnex Telecom and Telxius. Its aim is to manage the ownership, leasing and acquisition of Spanish telecoms infrastructure, as well as the provision of services to third parties via these networks. The new business has a share capital of EUR439 million (USD480 million).
As previously reported by TeleGeography’s CommsUpdate, in July 2019 Vodafone Group unveiled its plan to legally separate its European tower infrastructure into a new organisation – provisionally named TowerCo – by May 2020. Vodafone stated that TowerCo would own Europe’s largest tower portfolio, comprising approximately 61,700 towers across ten countries, with 75% of these sites located in the major markets of Germany, Italy, Spain and the UK.