Thursday, March 4, 2021
Home Companies Vodafone may announce IPO of its European towers unit as soon as...

Vodafone may announce IPO of its European towers unit as soon as Wednesday


Vodafone Group Plc is planning to announce the large preliminary public providing of its European towers unit within the coming days, based on folks acquainted with the matter.

The intention-to-float doc for Vantage Towers may very well be revealed as quickly as Wednesday morning, the folks stated, asking to not be recognized discussing personal data. Vantage Towers may very well be valued at 15 billion euros ($18.2 billion) or extra within the IPO, the decrease vary of analyst estimates, the folks stated.

Discussions are ongoing and the timing of the Vantage Towers announcement might change, the folks stated. Representatives for Vodafone and Vantage Towers declined to remark.

The corporate shall be competing for buyers with Cellnex Telecom SA, which earlier this month introduced plans for a capital enhance of as a lot as 7 billion euros to assist fund its acquisition of French telecommunication towers from billionaire Patrick Drahi’s Altice Europe NV.

Carving out towers is the centerpiece of Vodafone Chief Govt Officer Nick Learn’s technique to squeeze extra worth from belongings owned by the U.Okay. telecommunications large. Proceeds from the IPO will go towards paying down a few of Vodafone’s multibillion-euro debt pile, the corporate has stated.

Vodafone has picked Frankfurt for the itemizing, reflecting the excessive share of tower belongings from that nation in Vantage’s portfolio.

Subscribe to Mint Newsletters

* Enter a legitimate e mail

* Thanks for subscribing to our publication.



Source link

Most Popular

Afghanistan, Zimbabwe look to flex Test credentials in maiden meeting

Zimbabwe final performed a Take a look at in February 2020, in Bangladesh © AFP Large image The A-Z of Take a look at...

Vaccines Safe, PM Modi Led By Example: Minister Harsh Vardhan

<!-- -->"I'll do the reserving in the present day and I plan to get vaccinated tomorrow," Dr Harsh Vardhan stated. (File)New Delhi: Prime...

Delhi riots: Court adjourns cognisance of 3rd chargesheet for Tuesday | Delhi News – Times of India

NEW DELHI: A Delhi courtroom on Monday adjourned for Tuesday the listening to on cognisance of the supplementary chargesheet filed by the

What 15th Fin Comm award means for India’s states, in five charts

The XVFC’s report, tabled in Parliament on 1 February, lays out a restoration roadmap for states, specializing in grants-based transfers from...

Recent Comments

Translate »