REG - Vodafone Group Plc - Update on Vantage Towers Co-Control Partnership

VodafoneAnnouncement

18/07/2023 07:00

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RNS Number : 2957G  Vodafone Group Plc  18 July 2023

 

18 July 2023

 

Update on Co-Control Partnership for Vantage Towers

 

Further to the announcement of a co-control partnership for Vantage Towers on
9 November 2022, Vodafone Group Plc ("Vodafone") announces that, based on
commitments secured by the consortium of long-term infrastructure investors
led by Global Infrastructure Partners and KKR (together the "Consortium"),
Vodafone will receive further proceeds of €500 million, taking total net
proceeds to €5.4 billion and the Consortium's ownership in Oak Holdings GmbH
("Oak Holdings") to 40%.

 

Vodafone has agreed with the Consortium a further 6 month window to acquire
additional shares in Oak Holdings at the same price, up to a maximum of 50%
ownership, by the end of 2023. Vodafone's 12 month option to pursue a
sell-down to a 50% ownership stake in Oak Holdings outside of lock-up
provisions and other restrictions will now commence on 1 January 2024.(1)

 

- ends -

 

For more information, please contact:

Investor Relations
 Media Relations

investors.vodafone.com (https://investors.vodafone.com/)
 
vodafone.com/news/contact-us (https://www.vodafone.com/news/contact-us)

ir@vodafone.co.uk (mailto:ir@vodafone.co.uk)
 
GroupMedia@vodafone.com (mailto:GroupMedia@vodafone.com)

Registered Office: Vodafone House, The Connection, Newbury, Berkshire RG14
2FN, England. Registered in England No. 1833679

 

About Vodafone

 

Vodafone is the largest pan-European and African telecoms company. Our purpose
is to connect for a better future by using technology to improve lives,
digitalise critical sectors and enable inclusive and sustainable digital
societies.

 

We provide mobile and fixed services to over 300 million customers in 17
countries, partner with mobile networks in 46 more and are also a world leader
in the Internet of Things (IoT), connecting over 160 million devices and
platforms. With Vodacom Financial Services and M-Pesa, we have the largest
financial technology platform in Africa, serving more than 56 million people
across six countries.

 

We are committed to reducing our environmental impact to reach net zero
emissions by 2040, while helping our customers reduce their own carbon
emissions by 350 million tonnes by 2030. We are driving action to reduce
device waste and achieve our target to reuse, resell or recycle 100% of our
network waste.

 

For more information, please visit www.vodafone.com (http://www.vodafone.com)
, follow us on Twitter at @VodafoneGroup or connect with us on LinkedIn at
www.linkedin.com/company/vodafone (http://www.linkedin.com/company/vodafone) .

 

Notes to announcement

 

1.   Except as disclosed, there has been no significant change affecting any
matter contained in the earlier notification and no other significant new
matter has arisen which would have been required to be mentioned in that
earlier notification if it had arisen at the time of the preparation of that
notification.

 

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