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Vodafone's towers arm plans biggest European IPO of 2021 so far

Duesseldorf, Germany-headquartered Vantage operates 82,000 towers across 10 countries, where it is usually the leading or second largest supplier. Germany is its largest market

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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

Reuters

3 min read Last Updated : Feb 24 2021 | 8:38 PM IST

Vantage Towers, the mobile masts company spun out of Vodafone Group, 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.

Duesseldorf, Germany-headquartered Vantage operates 82,000 towers across 10 countries, where it is usually the leading or second largest supplier. Germany is its largest market.

Vodafone said on Wednesday it would sell a "meaningful minority" stake to create a liquid market in Vantage Towers' shares. It will use proceeds to cut debt, which totals around 69

Topics : Vodafone initial public offerings IPOs

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