KKR & Co. is seen as the party to beat as it competes with Cellnex Telecom SA in the final race for a stake in Vodafone Group Plc’s towers unit, people with knowledge of the matter said.
Shares in Vantage rose as much as 3.5% on Thursday. The stock was up 2.4% at 10:31 a.m in Frankfurt, giving the company a market value of €14.3 billion ($14 billion). A raft of private equity and strategic bidders, including EQT AB and American Tower Corp., have previously shown interest in a deal for Vantage, Bloomberg News has reported.
Vodafone, which owns 82% of the tower business, could aim to reach an agreement by the time of its Nov. 15 half-year results announcement. The company continues to study the bids and hasn’t yet picked a winner, according to the people.
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