Vodafone announced it has completed the combination of the tower infrastructure assets of Vodafone Greece with those of Wind Hellas Telecommunications.
The combined entity called Vantage Towers Greece is the largest telecom tower company in Greece. Vodafone will own 62 percent of Vantage Towers Greece and Crystal Almond, the controlling shareholder of Wind Hellas, will own the remaining 38 percent.
Vantage Towers has a call option until 31 December 2021 to acquire the remaining 38 percent of Vantage Towers Greece from Crystal Almond for €288 million in cash (with the price increasing by 5 percent 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.