Vodafone Group Plc Vodafone sells further 10% in Vantage for €1.3bn
22 Julio 2024 - 1:00AM
RNS Regulatory News
RNS Number : 1832X
Vodafone Group Plc
22 July 2024
22 JULY
2024
|
Vodafone
sells further 10% in Vantage Towers for €1.3bn
|
Vodafone Group Plc ("Vodafone")
announces the sale of a further 10% stake in Oak Holdings
GmbH1 ("Oak Holdings") - the
partnership that co-controls Vantage Towers - for €1.3 billion.
This further sale achieves the 50:50 joint ownership structure with
the consortium of long-term infrastructure investors led by Global
Infrastructure Partners and KKR that was envisaged when the
co-control partnership was first announced.
Vodafone will receive €1.3 billion
from the sale of this equity stake, which has been sold at €32 per
share, the same price as the initial transaction, announced 9
November 2022. This takes the total net proceeds to Vodafone from
the sell down in Vantage Towers to €6.6 billion. Proceeds from this
sale will be used for deleveraging and will reduce Net
Debt/Adjusted EBITDAaL by 0.1x, which is in line with Vodafone's
target of operating in the lower half of its 2.25x - 2.75x leverage
range.
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Notes
1. Oak Holdings owns of 89.3% of Vantage Towers, and Vodafone's
effective ownership is now 44.7% following this
transaction.
About Vodafone
Vodafone is a leading European and
African telecoms company. We provide mobile and fixed services to
over 330 million customers in 15 countries (excludes Italy which is
held as a discontinued operation under Vodafone Group), partner
with mobile networks in 45 more and have one of the world's largest
IoT platforms. In Africa, our financial technology businesses serve
almost 79 million customers across seven countries - managing more
transactions than any other provider.
Our purpose is to connect for a
better future by using technology to improve lives, businesses and
help progress inclusive sustainable societies. We are committed to
reducing our environmental impact to reach net zero emissions by
2040.
For more information, please
visit
www.vodafone.com, follow us on X at
@VodafoneGroup or connect with us on LinkedIn at
www.linkedin.com/company/vodafone.
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