VODAFONE COMPLETES GREEK TOWER COMBINATION

21 December 2020

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.

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About Vodafone

Vodafone is a leading telecommunications company in Europe and Africa. Our purpose is to "connect for a better future" and our expertise and scale gives us a unique opportunity to drive positive change for society. Our networks keep family, friends, businesses and governments connected and - as COVID-19 has clearly demonstrated - we play a vital role in keeping economies running and the functioning of critical sectors like education and healthcare.  

Vodafone is the largest mobile and fixed network operator in Europe and a leading global IoT connectivity provider. Our M-Pesa technology platform in Africa enables over 45m people to benefit from access to mobile payments and financial services. We operate mobile and fixed networks in 21 countries and partner with mobile networks in 48 more. As of 30 September 2020, we had over 300m mobile customers, more than 27m fixed broadband customers, over 22m TV customers and we connected more than 112m IoT devices. 

We support diversity and inclusion through our maternity and parental leave policies, empowering women through connectivity and improving access to education and digital skills for women, girls, and society at large. We are respectful of all individuals, irrespective of race, ethnicity, disability, age, sexual orientation, gender identity, belief, culture or religion.

Vodafone is also taking significant steps to reduce our impact on our planet by reducing our greenhouse gas emissions by 50% by 2025 and becoming net zero by 2040, purchasing 100% of our electricity from renewable sources by 2025, and reusing, reselling or recycling 100% of our redundant network equipment.

For more information, please visit www.vodafone.com, follow us on Twitter at @VodafoneGroup or connect with us on LinkedIn at www.linkedin.com/company/vodafone.

About Vantage Towers

Vantage Towers is one of Europe's largest and most geographically diverse tower companies with 68,000 towers across nine countries.  We hold either the #1 or #2 market share positions in eight of the nine countries in which we operate, and our commanding portfolio of assets is matched by a next-generation approach to network sharing and services.

Our expanding infrastructure and efficient, high quality connectivity is accelerating the sustainable digitisation of Europe's communities by connecting people, businesses, and internet-enabled devices like never before.

We combine our scale, stability and quality with the agility, optimism and energy of a start-up. We're inspired by our past successes and excited by the opportunities in front of us.

For more information, please visit www.vantagetowers.com.