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Vodafone plans towers spin-out to cut debt

Vodafone plans towers spin-out to cut debt

Vodafone (VOD) is rationalising and refocusing its internal telecoms infrastructure under the stewardship of Nick Read. Within days of announcing an agreement with O2 Telefónica UK Limited to share 5G active equipment, it revealed that it is spinning off its European tower infrastructure into a new entity called TowerCo by May of next year. Depending on the state of the market, this will be achieved through a minority stake sale, a stock exchange flotation, or as yet unidentified “monetisation alternatives”.

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