Vodafone Plans Frankfurt IPO for Vantage Towers by End of March
By Adria Calatayud
Vodafone Group PLC said Wednesday that it intends to list its
European telecommunications-infrastructure unit, Vantage Towers, on
the Frankfurt Stock Exchange by the end of March.
The U.K. telecommunications group said the offering will consist
solely of a secondary sell-down of existing shares held by the
parent, and that the planned IPO seeks to target a meaningful
minority free float.
Vodafone said the timing of the IPO is subject to market
"We will be looking to capture the exciting value-creating
opportunities the sector has to offer and to build on our position
as a leading tower infrastructure company in Europe," Vantage
Towers Chief Executive Vivek Badrinath said.
Vantage Towers has a portfolio of around 82,000 tower sites
across 10 European countries.
Write to Adria Calatayud at email@example.com
(END) Dow Jones Newswires
February 24, 2021 02:31 ET (07:31 GMT)
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