Vodafone, the world's second biggest mobile operator, said on Friday it would list its towers business, named Vantage Towers, in Frankfurt in early 2021.
Chief Executive Nick Read said the launch of the new towers company was a major step in his strategy of improving the return from Vodafone's assets."Vantage Towers will also unlock further value for shareholders, notably through the IPO targeted for early 2021," he said on Friday.Vodafone's shares were down 1.8per cent by 0711 GMT.
Vodafone also said on Friday it created Greece's largest tower company through a deal with Crystal Almond, the controlling shareholder of Greek mobile operator Wind Hellas, which will be added to Vantage.
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