Vodafone Sells €1.3 Billion Vantage Towers Stake to Pay Off Debt

Vodafone Group Plc sold another 10% stake worth €1.3 billion ($1.4 billion) in Vantage Towers, as the UK-based telecommunications firm seeks to reduce its debt.

The sale ispart of a deal announced in November 2022, when Vodafone agreed to sell a stake in its Germany-based tower company for €32 per share to KKR & Co. and Global Infrastructure Partners. Under the deal’s terms, Vodafone shifted its 81.7% holding in Vantage Towers into a joint venture with KKR and GIP, called Oak Holdings, and has been selling it down ever since. The most recent sale brings Vodafone’s ...