Vodafone Receives Takeover Bids For Vantage Towers: Reuters

Vodafone Receives Takeover Bids For Vantage Towers: Reuters
  • Global infrastructure funds approached Vodafone Group PLC VOD to invest in its $16 billion mast company Vantage Towers AG VTAGYReuters reports.
  • The bidders, including investment firms Brookfield and Global Infrastructure Partners, submitted proposals valuing Vantage Towers at a premium to its current valuation of €15 billion ($16.57 billion).
  • Also Read: This French Carrier Offers To Acquire Vodafone's Italian Unit
  • Contrastingly, Vodafone preferred an industry merger with either Deutsche Telekom AG's DTEGY towers unit DFMG or Orange SA's FNCTF Totem.
  • Vantage Towers chief Nick Read preferred Orange's Totem or Deutsche Telekom's tower assets as suitable candidates.
  • Vodafone remained vulnerable to Europe's most prominent activist fund Cevian Capital to boost returns.
  • Reuters notes that Deutsche Telekom is exploring infrastructure deals without giving much detail.
  • Price Action: VOD shares traded higher by 0.12% at $16.83 in the premarket on the last check Friday.

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