September 13, 2024 07:42 GMT
VMED To Sell A Further 8% Stake In Mobile Towers JV
COMMUNICATIONS
Relatively small figures and VMED bonds are flat on the news. Slight positive but not a mover.
- FT sources report that Virgin Media O2 is selling ~8% of its Cornerstone mobile towers JV to Equitix for GBP 150mn-160mn.
- Cornerstone operates 15,000+ sites, co-owned by Vodafone, with Virgin Media O2 reducing its stake but retaining strategic control above 25%.
- Last October, Virgin Media O2 sold a 16.67% stake in Cornerstone to GLIL Infrastructure for GBP 360mn.
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