(RTTNews) - Vodafone Group Plc (VOD.L) announced Friday the launch of Vantage Towers, a tower infrastructure platform, which supports Europe's digitalisation by establishing and maintaining extensive, high quality and resilient networks. The company is on track for an Initial Public offering or IPO in early 2021, targeting a Prime Standard Listing in Frankfurt.
The platform will have over 68,000 towers across 9 markets. Vantage Towers is led by Vivek Badrinath as Chief Executive Officer, Thomas Reisten as Chief Financial Officer and Sonia Hernandez as CCO.
The company announced potential to include Vodafone's 50% stake in CTIL, a tower infrastructure company in the UK, with 14,300 towers and 50% share of estimated FY20 pro forma adjusted EBITDA, amounting to 50 million euros to 70 million euros.
The company also announced the merger of Vodafone's and Wind Hellas' towers businesses in Greece, which creates the leading tower infrastructure company in Greece.
Vivek Badrinath, Vantage Towers Chief Executive, said, "I am excited to lead Vantage Towers, which owns the tower infrastructure that is critical for the digital services upon which society, customers and governments rely on across 9 European markets. We have a strong platform to capture growth opportunities in connectivity across Europe, leveraging our long-term arrangements with leading operators."