Zegona mulls ending Vantage Towers contract over Spain rates, Bloomberg News reports (updated)

Zegona Communications

16/10/2024 19:02

(Adds details from report and background throughout)
       Oct 16 (Reuters) - Zegona Communications  ZEG.L  is
weighing ending a long-term contract with telecom network
provider Vantage Towers over prices charged by the Germany-based
company, Bloomberg News reported on Wednesday.
    The British telecom investment company has been negotiating
lower prices for Vodafone Spain, which it bought last year, and
may shift to a different tower provider if Vantage does not
reduce the annual fees by 50 million euros ($54.34 million), the
report said, citing people familiar with the matter.
        Vodafone Spain has approached other tower companies in
Spain, including Cellnex Telecom SA  CLNX.MC , American Tower
Corp  AMT.N  and Orange SA's  ORAN.PA  Totem, to assess costs
and feasibility, the report added.    
        Vantage Towers, Cellnex, American Tower, and Orange did
not immediately respond to Reuters requests for comment, while
Zegona declined to comment.             

($1 = 0.9202 euros)

 (Reporting by Aatrayee Chatterjee and Anandita Mehrotra in
Bengaluru; Editing by Shounak Dasgupta and Devika Syamnath)
 ((Aatrayee.Chatterjee@thomsonreuters.com))