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Benzinga

Technology

Anusuya Lahiri

Vodafone Receives Takeover Bids For Vantage Towers: Reuters

VOD Vodafone Deutsche Telekom Totem Orange Brookfield Deutsche Telekom AG Europe Global Infrastructure Partners Nick Read

Global infrastructure funds approached Vodafone Group PLC (NASDAQ:VOD) to invest in its $16 billion mast company Vantage Towers AG (OTC: VTAGY), Reuters reports.
The bidders, including investment firms Brookfield and Global Infrastructure Partners, submitted proposals valuing Vantage Towers at a premium to its current valuation of €15 billion ($16.57 billion).
Also Read: This French Carrier Offers To Acquire Vodafone's Italian Unit
Contrastingly, Vodafone preferred an industry merger with either Deutsche Telekom AG's (OTC: DTEGY) towers unit DFMG or Orange SA's (OTC: FNCTF) Totem.
Vantage Towers chief Nick Read preferred Orange's Totem or Deutsche Telekom's tower assets as suitable candidates.
Vodafone remained vulnerable to Europe's most prominent activist fund Cevian Capital to boost returns.
Reuters notes that Deutsche Telekom is exploring infrastructure deals without giving much detail.
Price Action: VOD shares traded higher by 0.12% at $16.83 in the premarket on the last check Friday.

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