LONDON: Vodafone , the world's second biggest mobile operator, said on Friday it would list its towers unit, named Vantage Towers, in Frankfurt in early 2021.
It announced it would set up a European mast company worth upwards of 18 billion euros a year ago. The spin-out, which has more than 68,000 mobile towers across nine European markets, became operational in May.Chief Executive Nick Read said the launch of the new towers company was a major step in his strategy of improving the return from Vodafone's assets.
"Vantage Towers will also unlock further value for shareholders, notably through the IPO targeted for early 2021," he said on Friday. Vodafone will be Vantage Tower's anchor tenant, providing around 90per cent of its revenue at launch, and it aims to add other long-term tenants to its infrastructure, Vodafone said.
Vodafone also reported a 1.3per cent decline in first-quarter organic service revenue, which it said was mainly due to COVID-19 impacts. It reiterated its guidance for the year.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Don't expect first COVID-19 vaccinations until early 2021: WHO expertResearchers are making good progress in developing vaccines against COVID-19, with a handful in late-stage trials, but their first use cannot be ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Don't expect first Covid-19 vaccinations until early 2021: WHO's RyanGENEVA (REUTERS) - Researchers are making 'good progress' in developing vaccines against Covid-19, with a handful in late-stage trials, but their first use cannot be expected until early 2021, a World Health Organisation (WHO) expert said on Wednesday (July 22).. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Don't expect first COVID-19 vaccinations until early 2021: WHO's RyanResearchers are making good progress in developing vaccines against COVID-19, with a handful in late-stage trials, but their first use cannot be ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Don't expect first COVID-19 vaccinations until early 2021 - WHO's RyanResearchers are making 'good progress' in developing vaccines against COVID-19, with a handful in late-stage trials, but their first use cannot be expected until early 2021, a World Health Organization (WHO) expert said on Wednesday. WHO is working to ensure fair vaccine distribution, but
Source: YahooSG - 🏆 3. / 71 Read more »
Top Gun: Maverick, A Quiet Place Part II Delayed To 2021
Source: TODAYonline - 🏆 1. / 99 Read more »
SK Hynix says chip prices to correct after lockdown stockpiling, recover in 2021South Korea's SK Hynix, the world's No.2 memory chip maker, on Thursday warned of uncertainty in the second half of 2020 after its second-quarter ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »