Shares in Vodafone Group PLC (LSE:VOD) pushed higher (up 3%) on fresh reports of interest in its wireless towers business with a number of private equity businesses competing to buy a stake.
A report on Bloomberg said KKR & Co. and Global Infrastructure Partners are among private equity firms competing for a holding in Frankfurt-listed Vantage Towers.
Citing people familiar with the deal Bloomberg said that Swedish investment firm EQT AB has also been exploring a potential investment in the division.
The report said 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 Bloomberg.
The Newbury-based firm spun off its European mobile towers back in 2019 with the intention of providing infrastructure services to other operators and attracting third party investment.
Last year, Vodafone and O2 agreed to add their shared towers in the UK to Vantage’s portfolio, bringing the total number of sites under its control to more than 82,000 across ten countries.
In March, Reuters reported that Vodafone had received approaches from Brookfield and Global Infrastructure Partners (GIP) that valued Vantage Towers at €15bn.