Vodafone's
The mobile operator on Tuesday will detail the prospects for Vantage Towers, which will IPO in Germany, Vodafone's biggest market.
Vantage will operate around 68,000 macro sites across nine European countries, with commitments to build 7,100 new sites by financial year 2027, Vodafone said.
Vantage Towers CEO Vivek Badrinath said: "The growth potential in the towers sector is fuelled by the requirement for data as well as the roll-out of 5G technology and new and wider network coverage obligations across Europe.
"These factors will increase the number of tenants renting space on our towers and we have also received firm commitments to build 7,100 new sites for our customers."
Vantage Towers will target more mobile operator customers for its sites, taking it tenancy ratio from around 1.38 operators per site to more than 1.5 in the medium term, Vodafone said.
The new company will include a proportionate share of INWIT, Italy's largest tower operator, Vodafone said. Vodafone and Telecom Italia
Vodafone also said it intended to transfer its 50% stake in CTIL, its infrastructure joint venture with Telefonica
Vodafone Chief Executive Nick Read said on Monday the talks were advanced.
Consolidated earnings before interest, tax, depreciation and amortisation, adjusted for special factors (EBITDAal), for Vantage Towers were expected to come in at 530-540 million euros in 2021. In 2020, adjusted EBITDal was 523 million euros.
($1 = 0.8438 euros)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU