Vodafone Group reportedly considering sale of a stake in Vantage Towers

26 Sep 2022

UK-based telecoms giant Vodafone Group is rumoured to be considering the sale of a stake in tower unit Vantage Towers. According to This Is Money, which cites a Vodafone report, the most likely scenario would see a ‘co-control’ deal, under which Vodafone Group would sell half of its 82% stake in Vantage Towers, most likely to a private equity purchaser. Potential buyers for the stake could include KKR, Global Infrastructure Partners and EQT, it was said, and although there is no confirmed timetable, it has been suggested a deal could be inked before the end of 2022. Meanwhile, the report notes that any agreement for a stake in Vantage Towers could see Vodafone Group bring in more than GBP6 billion (USD6.5 billion) in cash proceeds, while also enabling it to remove GBP2.2 billion of Vantage’s debt from its balance sheet.

United Kingdom, Vantage Towers, Vodafone Group