Vodafone Group Plc has announced the sale of an additional 10% stake in Oak Holdings GmbH, the partnership controlling Vantage Towers, for €1.3 billion. This transaction completes the planned 50:50 joint ownership structure with a consortium of infrastructure investors led by Global Infrastructure Partners and KKR, as initially outlined when the co-control partnership was established.
The telecommunications giant has secured €1.3 billion from this equity stake sale, priced at €32 per share—matching the valuation of the initial transaction announced in November 2022. This latest deal brings Vodafone’s total net proceeds from its Vantage Towers divestment to a substantial €6.6 billion, significantly bolstering the company’s financial position.
Vodafone plans to utilise the proceeds for debt reduction, with the sale expected to decrease the company’s Net Debt to Adjusted EBITDAaL ratio by 0.1x.
The completion of this transaction marks another step in Vodafone’s strategy to streamline the business and focus on core operations.
Vodafone shares were little changed by the news.