Vodafone sells further 10% in Vantage Towers for €1.3bn

(Sharecast News) - Vodafone Group said it had sold a further 10% stake in the joint venture that co-controls Vantage Towers for €1.3bn to reduce its debt.

The sale achieves the 50:50 joint ownership structure with the consortium of infrastructure investors led by Global Infrastructure Partners and KKR that was envisaged when the co-control partnership was first announced, Vodafone said on Monday.

Vodafone has now received €6.6bn in total from the sell down in Vantage Towers. Oak Holdings owns of 89.3% of Vantage Towers, and Vodafone's effective ownership is now 44.7% following the latest deal.

Reporting by Frank Prenesti for Sharecast.com