Vodafone is on track with its IPO of Vantage Towers, the company it has housed all of its European cell towers. The British telecom company aims to bring the masts to the stock exchange in Frankfurt early next year.
According to Vantage Towers CEO Vivek Badrinath, the company has great growth potential and will continue to have more value for its shareholders in the future.
“The cell towers are critical to the digital services that society, customers and governments need. We have a strong platform with opportunities for growth and connectivity across Europe,” said Badrinath.
Vodafone also announced Friday the merger with Wind Hellas in Greece, the cell tower company in Greece. Some 68,000 cell towers are now covered by the Vantage Towers, spread over Germany, Spain, Greece, Portugal, the Czech Republic, Romania, Hungary, Ireland and Italy.
The telecom company announced the stock exchange plan at the same time as a trading report for the first quarter of its broken financial year. In it, the turnover of the British company fell by 1.3 percent to 10.5 billion euros. According to Vodafone, this decrease was mainly due to the corona crisis.