![]() ![]() ![]() Vodafone rival Orange (ORAN.PA) launched its own towers unit this month, while Spain's Cellnex (CLNX.MC), Europe's biggest towers company, is raising 7 billion euros for expansion. ![]() The value of mobile infrastructure - masts, energy supply and backhaul connections - has surged as investors look for secure long-term income. "These three factors will drive demand for new tenancies and new tower sites," he said, adding he aimed to increase the average number of mobile operators using each mast from 1.39 to more than 1.5. Vantage's CEO Vivek Badrinath said growth in data traffic, the roll-out of 5G and tougher coverage requirements, for example in Germany and Britain, underpinned its prospects. The deal would also be the largest European telecoms IPO since that of Belgacom in 2014, and Germany's largest listing since that of Knorr Bremse in 2018, both of which raised $4.4 billion, according to Refinitiv data. That would make Vantage the largest European listing of the year in a busy season that has seen $12 billion Polish firm InPost (INPST.AS), $10 billion German used-car trading platform AUTO1 (AG1G.DE) and $5 billion British boot brand Dr. People familiar with the matter said stock worth about 3 billion euros would be sold, possibly giving the company a valuation of 15-18 billion euros. No new shares will be sold, meaning Vantage will not make money from the deal. It will use proceeds to cut debt, which totals around 69 billion euros, according to Refinitiv data. Vodafone said on Wednesday it would sell a "meaningful minority" stake to create a liquid market in Vantage Towers' shares. LONDON, Feb 24 (Reuters) - Vantage Towers, the mobile masts company spun out of Vodafone Group (VOD.L), plans to float in Frankfurt by the end of March in a deal that could value it at up to 18 billion euros ($22 billion), making it Europe's largest listing so far this year.ĭuesseldorf, Germany-headquartered Vantage operates 82,000 towers across 10 countries, where it is usually the leading or second largest supplier. ![]()
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