Vantage Towers, which manages approximately 8,300 towers nationwide, is reportedly exploring the sale of its Spanish assets.
According to a media report, sources indicate that the company is collaborating with Morgan Stanley to gauge interest from potential buyers. While talks are in the preliminary stages, the sale of Vantage Towers’ infrastructure assets in Spain could potentially reach a value of around EUR 1 billion.
The news emerges just a day after reports surfaced about an ongoing dispute between Vantage Towers and its largest client, Vodafone Spain, over annual pricing.
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Zegona Communications (Zegona), which acquired Vodafone Spain earlier this year for EUR 5 billion, is reportedly considering ending its long-term agreement with Vantage Towers due to pricing disputes.
Zegona is said to be demanding at least a EUR 50 million reduction in Vantage’s annual fees. Additionally, Zegona is exploring other options by reaching out to alternative tower providers, including Cellnex, American Tower Corp, and Orange’s tower company, TOTEM.
Switching contracts would be highly unusual for Zegona, given that such agreements typically span decades and include substantial penalties for early termination. However, sources indicate that Vodafone Spain could still achieve cost savings by moving to an alternative provider’s infrastructure, where it would occupy the position of a second tenant.