The British telecommunications giant wants to go back on the offensive.
(Photo: Picture Press/Camera Press/Tom Stockill)
Hamburg, Frankfort The British telecommunications group Vodafone plans to significantly expand its financial scope. The Handelsblatt learned this from corporate and financial circles.
Accordingly, the establishment of a joint venture with an investor for fiber optic expansion in Germany is imminent. In addition, the group wants to sell a minority stake in Vantage Towers, to which the group outsourced its cell phone towers in 2019.
The combination of high debt and sluggish business has brought criticism to Vodafone’s leadership around CEO Nick Read in recent months. In competition with direct competitors such as Deutsche Telekom or the Spanish Telefónica, the British had fallen behind – especially in the important German market.
Vodafone: Deals with billions in fiber optics & radio towers should reduce debt burden
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