Vodafone Group is considering to raise $4.7 billion from its European towers unit's initial public offering (IPO) in the coming 2021. It is planning to list Vantage Towers in the first quarter of 2021 in a deal that could value the unit at $23.6 billion, the report added. This may be the largest IPO on European exchange in over three years.
Vodafone is planning to list its Vantage Towers unit in Frankfurt as soon as the first quarter in a deal that could value the business at around 20 billion euros, including debt, the people said, asking not to be identified as the details aren’t public. This could make it the largest IPO on a European exchange for more than three years, data compiled by Bloomberg show.
Vantage has more than 68,000 sites in nine markets, according to its website. Vodafone’s decision to list the business in Germany reflects the high share of tower assets from that country in its portfolio, Chief Executive Officer Nick Read said in July.
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