Vodafone said it sold a further 10% stake in Vantage Towers for €1.3 billion, bringing its ownership in a group which controls European mobile phone masts down to its intended level with infrastructure investors.
The stake sale is the final part of a deal announced in 2022 when Vodafone said it would sell a chunk of its Germany-based masts company to Global Infrastructure Partners (GIP) and KKR to raise proceeds to reduce its debt.
Vodafone said that the €1.3 billion from the latest sale took total proceeds from the Vantage Towers sale to €6.6 billion.
Oak Holdings, the partnership that co-controls Vantage Towers, bought the 10% stake and following the deal, Vodafone said Oak Holdings owns 89.3% of Vantage Towers, with Vodafone's effective ownership at 44.7%.
Source: https://www.rte.ie/news/business/2024/0722/1461103-vodafone-sells-10-stake-in-vantage-towers/