Vodafone tower business attract several suitors

Telecom Towers
Telecom Towers

Speculation on the future ownership make up of Vodafone Group’s spun-off business Vantage Towers re-emerged, with Bloomberg reporting a number of private equity companies were competing for a stake in the company.

The news website claimed KKR, Global Infrastructure Partners and EQT Group were among the companies assessing making a bid for a share of Vantage Towers.

It noted although it was unclear the size of the stake, if any, Vodafone was willing to part with, several suitors were targeting a majority share.

Since founding the business to host its towers across Europe in 2020, Vodafone has publicly listed a minority stake which valued the whole of Vantage Towers at €12.1 billion.

Following that sale, Vodafone retained an almost 82 per cent share.

The latest speculation is not the first-time big-name investors have been linked with investing in the company.

In March, Reuters reported Brookfield Asset Management and Global Infrastructure Partners had submitted unsolicited offers for an unspecified stake.

At the time it was claimed Vodafone’s preferred future route was a tie-up with a peer such as Orange’s Totem tower businesses rather than selling further shares.

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