StockMarketWire.com - Telecom group Vodafone reaffirmed annual guidance for its Vantage Towers infrastructure business, which it is planning to spin off later this year.

Underlying pro-forma earnings in the 2021 financial year was still expected at between €520 million and €530 million, on revenue of €955 million-to-€970 million.

In the first nine months of the year, adjusted pro-forma earnings had reached €394 million.

'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 chief executive Vivek Badrinath said.

'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.' Story provided by StockMarketWire.com