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Vodafone To List its Tower Business Separately Next Year

Vodafone To List its Tower Business Separately Next Year

On Friday, the telecommunication giant, Vodafone, said that they would list their tower infrastructure venture separately in Frankfurt next year.

The Dusseldorf based company’s fiscal first-quarter organic service revenue for 2020 fell around 1.3%, and the total revenue went around 1.4% down, reaching to 10.5 billion euro.

In July 2019, the company had already announced to be thinking about separating its tower business and has been doing so since May 2020. Vodafone’s tower venture is helmed by Vivek Badrinath and would remain at the same CEO position after the IPO listing too.

The telecom firm, Vodafone, also reported its proforma fiscal 2020 result, according to which the company earned around 950 million euro in revenue and made an operating profit of 523 million euro out of it.

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