- Telecom group Vodafone said it intended to float is Vantage Towers infrastructure business in Germany before the end of March.

The company already had announced plans to spin the business off and confirmed it would list it on the Frankfurt Stock Exchange.

The initial public offering would target 'a meaningful minority free float' to create a liquid market for Vantage Towers shares, it added.

'The IPO is an important milestone and sets the foundations for the next stage of our growth within the dynamic towers industry,' Vantage Towers chief executive Vivek Badrinath said.

'We will be looking to capture the exciting value-creating opportunities the sector has to offer and to build on our position as a leading tower infrastructure company in Europe.'

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