The Clap
According to the Financial Times, the Saudi Public Investment Fund (PIF) is piecing together a EUR 14.8 billion offer to acquire Vodafone’s towers in Europe.
The Deets
Sources indicated that KKR and Global Infrastructure Partners are leading the expected deal, with the offer on its way to topping the offer made by the Spanish company “Cellnex“.
So What
Vodafone has been trying hard to sell a stake in its tower segment for several months after it was segregated from the business last year.
The company operates 83,000 towers in 10 European countries, and currently owns 82% of the tower sector.
On the other hand, the expected deal will give Saudi Arabia the opportunity to explore the European telecom infrastructure.
Now What
KKR and Global Infrastructure Partners will invest more with support from the PIF, and the winning bid is expected to be announced during the current week, with no guarantee that the deal may take place.
