Vodafone: Vantage's business 'strong' ahead of IPO
(CercleFinance.com) - Vantage Towers is building a "strong commercial momentum" ahead of its much-awaited market debut, its parent company Vodafone said in a statement on Monday.
In the trading update, Vodafone said its telecoms infrastructure business saw its portfolio increase to around 82,000 sites, with it now present in 10 European markets, following the recent addition of a 50% stake in Cornerstone, the UK's leading tower company.
Vantage now has leading positions in 9 of these markets, the British phone giant said.
Vantage Towers - which is benefiting from the roll out of 5G networks and the booming use of data traffic at mobile operators - reaffirmed its targets, aiming at pro-forma recurrent free cash flow ("RFCF") of between 375-385 million euros for fiscal year 2021.
Last year Vodafone said it was planning to list it tower infrastructure unit on the Frankfurt Stock Exchange in the beginning of 2021. The company did not provide any specific date on Monday.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
In the trading update, Vodafone said its telecoms infrastructure business saw its portfolio increase to around 82,000 sites, with it now present in 10 European markets, following the recent addition of a 50% stake in Cornerstone, the UK's leading tower company.
Vantage now has leading positions in 9 of these markets, the British phone giant said.
Vantage Towers - which is benefiting from the roll out of 5G networks and the booming use of data traffic at mobile operators - reaffirmed its targets, aiming at pro-forma recurrent free cash flow ("RFCF") of between 375-385 million euros for fiscal year 2021.
Last year Vodafone said it was planning to list it tower infrastructure unit on the Frankfurt Stock Exchange in the beginning of 2021. The company did not provide any specific date on Monday.
Copyright (c) 2021 CercleFinance.com. All rights reserved.