Combination of the Tower Assets of Vodafone Greece And Wind Hellas Completed

Further to the announcement on 24 July 2020, Vodafone announced today that it has completed the combination of the tower infrastructure assets of Vodafone Greece with those of Wind Hellas Telecommunications SA (“Wind Hellas”). The combined entity (“Vantage Towers Greece”) is the largest tower infrastructure company in Greece. Vodafone will own 62% of Vantage Towers Greece and Crystal Almond S.À.R.L (“Crystal Almond”), the controlling shareholder of Wind Hellas, will own the remaining 38%.

Vantage Towers has a call option (the “Call Option”) until 31 December 2021 to acquire the remaining 38% of Vantage Towers Greece from Crystal Almond for €288 million in cash (with the price increasing by 5% if the Call Option has not been exercised by 1 July 2021). Vodafone has agreed that, in the event Vantage Towers publishes an “Intention to Float” announcement in relation to an IPO of Vantage Towers, the Call Option will automatically be triggered.

Source: Vodafone media announcement