Vodafone to put stake in Telefonica UK-JV into towers spin-out

Vodafone said on Monday it intended to put its stake in its UK mobile towers joint venture with Telefonica into Vantage Towers, the infrastructure spin-out it intends to list early next year.

“We have done a significant amount of work with Tef (Telefonica) and it is our intention ultimately to roll our stake in CTIL into Vantage Towers, ideally ahead of the IPO,” Chief Executive Nick Read told reporters after the group published its first-half results.