Branding for Vodafone is seen on the exterior of a shop in London, Britain. File photo: REUTERS/TOBY MELVILLEGlobal infrastructure funds have approached Vodafone to invest in its $16bn mast company Vantage Towers but the telecom giant’s preference is for an industry merger, sources familiar with the matter told Reuters.
Vodafone, which listed Vantage Towers in Frankfurt in 2021 and still owns 81% of the business, has been reluctant to engage in talks with financial investors as it seeks to clinch an industry merger for Vantage with either Deutsche Telekom's towers unit DFMG or Orange's Totem, two separate sources said, cautioning no deal was imminent.
Vodafone faces pressure from Europe's largest activist fund Cevian Capital to simplify its portfolio, enhance its strategy in key markets and boost returns. Telecom executives have repeatedly called for market consolidation to reduce competition and boost operators’ profitability at a time they need cash to invest in the rollout of 5G mobile telecom infrastructure.Vodafone is now focusing on extracting value from its controlling stake in Vantage Towers, with boss Nick Read repeatedly mentioning Orange's Totem or Deutsche Telekom's tower assets as suitable candidates.
Earlier in March, Reuters reported that Deutsche Telekom had begun an auction for its towers business with indicative bids expected in mid-March.
❤🙂💕
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessTechSA - 🏆 24. / 61 Read more »