93.36% of the shareholders of Vantage Towers have validated the takeover bid (OPA) of shares issued on the tower company by Vodafone, its majority shareholder, KKR and GIP through the company Oak Consortium GmbH.
The consortium already controlled 81.72% of the company’s shares, while Vodafone had another 4.12%, so the participation among independent shareholders of the offer of 32 euros per title has been 7.54%, which meant the disbursement of 1,219 million euros.
The intention of the partners is to remove the company from the stock market and for Vodafone to control 50% of the capital of the new company and KKR and GIP another 50%. Depending on the final numbers, Vodafone may receive up to between a minimum of euros and up to a maximum of between 5,800 and 7,100 million euros. In the last few hours, however, the Elliot activist fund has flourished with a stake of just over 5% of the ‘torrera’ capital.
The consortium has transferred this Wednesday that it will continue accepting adhesions to its offer until it finishes collecting the necessary authorizations to undertake the transactions. Vantage has a portfolio of 46,000 telecommunications towers in Europe, with Germany and Spain, where it has 8,600 towers, as its main markets, along with Italy and the United Kingdom, where it is present through ‘joint-ventures’.
The company has billed 787.2 million euros in the first nine months of its fiscal year, which ends in March, 5.6% more, and continues to increase the volume of revenue that does not come from Vodafone, its anchor client.
