November 15, 2022 | Telecom | Europe | Ended

Vantage Towers / Vodafone, GIP, KKR: Deal Insight

Vodafone announced on 9-Nov-22 a strategic co-control partnership with a consortium of “long-term investors with significant expertise in digital infrastructure”, as the British telecom group seeks to cut debt and boost growth at its majority-held tower infrastructure unit, Vantage Towers. Under the deal structure, Vodafone will move its 81.7% stake in Vantage into a joint venture (JV) with Global Infrastructure Partners (“GIP”) and KKR (KKR US). The JV, called Oak BidCo, will then launch a voluntary public takeover offer for the outstanding stake at €32.00 per share. Vodafone confirmed it holds an irrevocable from the second-largest minority shareholder, RRJ Capital (2.4%), to accept the offer and that it will purchase Digital Bridge’s (4.1%) stake, meaning the JV will hold at least 88.3% of Vantage when the offer ...

How to Access this Report

Please contact us to request access to this report.


Share this article


Back to top of page