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Vodafone's tower company Vantage targets growth

·1-min read
Different types of 4G, 5G and data radio relay antennas for mobile phone networks are pictured on a relay mast operated by Vodafone in Berlin
Different types of 4G, 5G and data radio relay antennas for mobile phone networks are pictured on a relay mast operated by Vodafone in Berlin

LONDON (Reuters) - Vodafone <VOD.L> on Tuesday will detail the prospects for Vantage Towers, the infrastructure spin-out it plans to list next year, with an pro-forma adjusted earnings forecast of 530-540 million euros this financial year.

Vantage Towers, which will IPO in Germany, Vodafone's biggest market, will operate around 68,000 macro sites across nine European countries, with commitments to build 7,100 new sites by financial year 2027, Vodafone said.

Vantage Towers CEO Vivek Badrinath said: "The growth potential in the towers sector is fuelled by the requirement for data as well as the roll-out of 5G technology and new and wider network coverage obligations across Europe.

"These factors will increase the number of tenants renting space on our towers and we have also received firm commitments to build 7,100 new sites for our customers."

(Reporting by Paul Sandle; editing by Jason Neely)