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Vodafone opts for Frankfurt tower IPO

Flotation plans were unveiled alongside the telco’s first-quarter results
Vodafone opts for Frankfurt tower IPO

Vodafone (VOD) plans to float its European towers business in early 2021, choosing Frankfurt as the IPO venue over London. ‘Vantage Towers’ has over 68,000 towers across nine markets and is the first or second-largest player in each of those locations. The group said that Vantage has “highly secure, predictable cash flows” supported by long-term, inflation-linked contracts with “highly-rated tenants” – anchored by Vodafone itself.

IC TIP: Hold at 123p

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