Vodafone to seek $2.4 billion in Vantage IPO PUBLISHED BY
Vodafone Group Plc plans an initial public offering of 2 billion euros or $2.4 billion of its European mobile-phone tower unit in Frankfurt. Vantage would be the biggest European IPO since InPost, the parcel locker company, in January.
According to a statement from the company in its listing documents, the U.K. telecommunications giant plans to sell shares in its German Vantage Towers AG at 22.50 euros to 29 euros apiece. The market value of Vantage has been determined at 14.7 billion euros. Vodafone intends to use the proceeds to pay some of its accumulated debt, the company said.