European expansion for Vodafone tower company as 5G boosts demand
A mobile tower network has announced that it has increased its portfolio to approximately 82,000 sites in its third quarter.
Vantage Towers, part of the Vodafone Group, reported today (15 February) that its portfolio has expanded to include around 82,000 macro sites and a presence in ten European markets.
The expansion is part of the company’s European 5G rollout, as mobile operators aim to grow their networks.
Vantage expects to add a further 100 sites to its portfolio by the end of March, which would bring the year’s total to 550.
This comes as the business acquires a 50 per cent stake in Cornerstone, a UK tower company.
Vivek Badrinath, chief executive of Vantage Towers, commented: “The growth opportunity in Europe is considerable, as the roll out of 5G accelerates and mobile operators look to expand their networks to manage ever increasing data traffic.
“I am very pleased with the commercial momentum we are building at Vantage Towers.
“Customers are appreciating the high quality of our grid and their response to our focused commercial approach is encouraging. This underscores our confidence in our tenancy targets.
“Adding Cornerstone, the UK’s number one tower company, to our portfolio in early January was a significant step.
“Cornerstone is a great addition - it’s a market leader, with broad and dense coverage, providing services to two market leaders who already have a network sharing agreement in place.
“In January, we also finalised the appointments for our supervisory board, securing members with deep towers, entrepreneurial and M&A experience, alongside world class governance and technical expertise.”
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