Vodafone is reportedly planning to float Vantage Towers, its European mobile phone masts business, on the Frankfurt stock exchange in March 2021 in a share offering worth $3.6 billion.

To this end, the telco is believed to have chosen a full bank syndicate including UBS , Morgan Stanley, Bank of America to organise the initial public offering with the help of Goldman Sachs, Deutsche Bank, Barclays, BNP Paribas, Berenberg and Jefferies.

As per industry sources, Vantage Towers is expected to publish its intention to float by late February 2021, if markets hold.

Earlier in May 2020, Vodafone had made Vantage Towers a standalone company. Soon after in July 2020, the telco announced its plans to list a minority stake in Frankfurt in early 2021. Vodafone plans to use the proceeds to reduce its debt.