Vodafone: names independent chairman for Vantage unit

(CercleFinance.com) - Vodafone said Rüdiger Grube will join the supervisory board of Vantage Towers, its tower infrastructure unit, as an independent member, and will be appointed as chairman.


Previously, Rüdiger Grube held a number of executive positions at German automaker Daimler, and was also chairman and non-executive director at Airbus, as well as CEO of Deutsche Bahn.

The move comes ahead of Vantage's IPO in early 2021, the company said.

Vantage Towers - Europe's largest tower infrastructure company with over 68,000 sites across nine markets - will have a controlling interest in eight markets: Germany, Spain, Greece, Portugal, Czech Republic, Romania, Hungary and Ireland, Vodafone said.

It will also co-control Italy's INWIT - with a 33.2% equity stake - with the potential to include Vodafone's 50% equity stake in Britain's Cornerstone, which it co-controls with Telefonica.

Vodafone also said that it has received consent from its existing lenders to proceed with the merger of Indus Towers, its Indian phone tower unit, and Bharti Infratel.

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