Vodafone Divests €1.3 Billion Stake in Vantage Towers to Reduce Debt Burden
ByAinvest
Monday, Jul 22, 2024 4:48 am ET1min read
VOD--
Vodafone (VOD) has divested a 10% stake in Vantage Towers, netting €1.3 billion ($1.4 billion) and reducing its debt by lowering its Net Debt/Adjusted EBITDAaL by 0.1x. This strategic move aligns with Vodafone's goal of operating within a leverage range of 2.25x to 2.75x. The transaction also marks a significant step towards achieving a 50:50 joint ownership structure with Vantage Towers.
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