British mobile phone giant Vodafone on Wednesday said it planned to partially float its European telecoms towers business, Vantage Towers, on the Frankfurt stock market before the end of March.

Headquartered in Germany and estimated to be worth €15 billion, Vantage “is focused on deploying the full potential of its market-leading tower infrastructure to serve the increasing demand for connectivity across Europe, driven by data growth, 5G roll-out and regulatory coverage obligations”, Vodafone said in a statement.

The initial public offering (IPO) on the Frankfurt Stock Exchange “is expected to be before the end of March 2021,” Vodafone added. 

Analysts believe that up to €4 billion could be raised from floating a minority stake, helping to cut Vodafone’s debt.

Up to €4bn could be raised from floating a minority stake, helping to cut Vodafone’s debt

Vantage Towers chief executive Vivek Badrinath said the IPO “sets the foundations for the next stage of our growth within the dynamic towers industry. 

“We will be looking to capture the exciting value-creating opportunities the sector has to offer and to build on our position as a leading tower infrastructure company in Europe,” he added.

Vantage Towers’ portfolio includes towers, masts and rooftop sites.

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