Vantage Towers owns and operates around 8,300 towers across the country
Vantage Towers is considering the sale of its Spanish assets, according to a Bloomberg article published today, citing people familiar with the matter.
According to the article, the company is working with Morgan Stanley to assess the interest of potential buyers. If successful, the TowerCo’s Spanish infrastructure assets could fetch around €1 billion at sale, although discussions are still at a very early stage, according to the sources.
The new comes just one day after reports were published suggesting that Vantage is currently clashing with its largest customer, Vodafone Spain, over annual pricing.
Zegona Communications, who purchased Vodafone Spain earlier this year for €5 billion, are reportedly considering terminating its long-term contract with Vantage over the prices being charged to use its towers. After “months in tense negotiations”, Zegona is reportedly asking Vantage to reduce its annual fees by at last €50 million, while alo exploring its options with alternative tower companies. Companies approached by Zegona reportedly include Cellnex, American Tower Corp, and Orange’s tower company Totem.
If Zegona were to switch contracts, this would be highly unusual, as deals are usually decades-long, with large fines if broken. However, sources suggest Vodafone Spain could still potentially save money by becoming the second tenant on an alternative provider’s infrastructure.
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