Vodafone: plans to float Vantage Towers by end of March
(CercleFinance.com) - Vodafone announced on Wednesday that it intends to list Vantage Towers, its antenna and telecommunication masts division, on the Frankfurt Stock Exchange by the end of March.
In a statement, the British mobile phone giant said it plans to introduce a minority, although "significant" share of its subsidiary's capital on the market, aiming to ensure a liquid market for the exchange of its shares.
Vantage Towers is Europe's leading tower infrastructure operator with some 82,000 sites spread over 10 countries, where it is mostly number one or two in the market.
Vodafone and Vantage Towers are not disclosing further details of the terms of the transaction, although say that they have mandated BofA, Morgan Stanley and UBS as co-lead managers and Barclays, Berenberg, BNP Paribas, Deutsche Bank, Goldman Sachs and Jefferies as joint bookrunners.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
In a statement, the British mobile phone giant said it plans to introduce a minority, although "significant" share of its subsidiary's capital on the market, aiming to ensure a liquid market for the exchange of its shares.
Vantage Towers is Europe's leading tower infrastructure operator with some 82,000 sites spread over 10 countries, where it is mostly number one or two in the market.
Vodafone and Vantage Towers are not disclosing further details of the terms of the transaction, although say that they have mandated BofA, Morgan Stanley and UBS as co-lead managers and Barclays, Berenberg, BNP Paribas, Deutsche Bank, Goldman Sachs and Jefferies as joint bookrunners.
Copyright (c) 2021 CercleFinance.com. All rights reserved.