New business: Vodafone announced plans to separate Europe’s largest towers portfolio by May 2020. The business will consist of 61,700 masts in 10 countries. — Reuters
LONDON: Vodafone Group Plc plans to carve out its phone towers into a new business and consider an initial public offering or minority stake sale to lower debt.
The shares rose as much as 8.5% in early London trading after the carrier announced plans to separate Europe’s largest towers portfolio by May 2020. The business will consist of 61,700 masts in 10 countries, Vodafone said in a statement alongside financial results that beat expectations.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
