LONDON (dpa-AFX) - British telecom major Vodafone Group Plc (VOD, VOD.L) announced Monday the sale of a further 10 percent stake in Oak Holdings GmbH, the partnership that co-controls Vantage Towers, for 1.3 billion euros.
The equity stake has been sold at 32 euros per share, the same price as the initial transaction, announced November 9, 2022.
The company noted that the sale achieves the 50:50 joint ownership structure with the consortium of long-term infrastructure investors led by Global Infrastructure Partners and KKR that was envisaged when the co-control partnership was first announced.
The total net proceeds to Vodafone from the sell down in Vantage Towers would be 6.6 billion euros.
Proceeds from the sale will be used for deleveraging.
The company noted that Oak Holdings owns of 89.3 percent of Vantage Towers, and Vodafone's effective ownership is now 44.7 percent following the transaction.
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