VMED 02 - comment

The recycling of capital from tower infrastructure into fibre by VMED O2 is a well-trodden path. If VMED 0@ sold all of its towers stake, it could raise £1.5bn. The proceeds from the disposal will help fund the roll-out of new fibre networks. The impact for investors will be small as leverage at VMED 02 is managed by Telefonica via debt issuance to extract any excess cash. However, keeping the fibre roll-out on track is of long-term benefit.

https://www.ft.com/content/933abcba-c7f0-46cc-a2c2-dbf058aa6e6c?shareType=nongift 

https://www.ft.com/content/b51c010c-69dc-4642-a15e-c4eca97196c8