Vodafone offloads 10% stake in Vantage Towers for €1.3bn

Vodafone has sold an additional 10% stake in Oak Holdings, the partnership that co-controls Vantage Towers, for €1.3 billion, achieving a planned 50-50 joint ownership structure.

As a result, Oak Holdings now owns just over 89% of Vantage Towers.


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In a statement, the telecoms giant announced: “This takes the total net proceeds to Vodafone from the sell down in Vantage Towers to €6.6 billion.

“This further sale achieves the 50:50 joint ownership structure with the consortium of long-term infrastructure investors led by Global Infrastructure Partners and KKR that was envisaged when the co-control partnership was first announced.”

The proceeds from the sale will be used to reduce net debt and improve leverage, decreasing net debt over adjusted earnings before interest, tax, depreciation, amortisation and adjusted loss by 0.1, which aligns with the company’s goal of operating within the lower half of its 2.25x to 2.75x leverage range.