Vodafone shot higher on Thursday following a report that KKR & Co. and Global Infrastructure Partners are among private equity firms competing for a stake in the company’s wireless towers unit.
Bloomberg cited people familiar with the matter as saying that Swedish investment firm EQT AB has also been exploring a potential investment in Frankfurt-listed Vantage Towers. It was understood that Vodafone has invited suitors to participate in an auction process.
Sources told Bloomberg that Vodafone hasn’t made a final decision on the size of the stake it wants to sell, though a number of bidders are keen to get a majority holding. The UK carrier currently holds around 82% of Vantage, according to data compiled by Bloomberg.
There’s no certainty the private equity firms will proceed with formal offers, and other bidders could still emerge, sources said.
At 1250 BST, Vodafone shares were up 3.6% at 110.94 p, while Vantage Towers shares were up 12% at €28.54.
