Vantage Towers adds 1,400 new tenancies in 9 months

Vodafone Group’s Vantage Towers has released the third quarter result.
Vodafone telecom towerVantage Towers’ portfolio increased to 82,000 macro sites and to a presence in 10 European markets – with leading positions in 9 of them – following recent addition of 50 percent stake in Cornerstone, the UK’s #1 tower company.

Vantage Towers added 1,400 new tenancies in first 9 months of FY21 to 31 December 2020, including 500 previously non-committed tenancies.

Vantage Towers  added 450 new macro sites in first 9 months of FY21. Vantage Towers is confident of hitting target of 550 new sites by 31 March 2021.

Vivek Badrinath, CEO of Vantage Towers, said: “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.”

Vantage Towers has generated €723 million of revenue and €291 million of RFCF in its consolidated markets on a pro forma basis. In addition, Cornerstone contributed a further €39 million of RFCF for the first 9 months of FY21 pro forma based on its 50 percent share.