Vodafone is calling… they have more tea to spill!
Vantage Towers, its mobile masts spin-off, is planning to go public on the Frankfurt stock market by the end of March in what could become Europe’s biggest IPO of the year so far. Vodafone Group (VOD) is planning on selling a “meaningful minority” stake, and it will use the revenue to cut some of its debt. The stake’s value is worth a whopping $22b – just FYI!
Since no new shares will be sold, Vantage won’t really make money from the whole thing. Vantage, instead, plans to grow in the immediate future through the increasing demand for tower-related projects due to industry developments (namely data traffic growth and the 5G expansion).