Arqiva owners plan break-up of company after ditching £6bn float
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The investment firms behind telecoms mast giant Arqiva are said to be planning a break-up of the business, two years after they ditched a £6bn float.
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The move would see Arqiva’s TV and radio towers business split from its mobile masts division, which rents space to telecoms operators, the Sunday Telegraph reported.
Spanish towers firm Cellnex, one of Europe’s largest telecoms infrastructure firms, has been slated as a potential buyer, according to the report.
Arqiva’s investors, which include Canada Pension Plan Investment Board and private equity firms Macquarie, are also said to be exploring potential listings of one of both of the divisions.
The move would come two years after the Hampshire-headquartered company scrapped plans to float on the London Stock Exchange.
Arqiva operates roughly 8,000 towers across the UK, providing mobile services for operators such as Vodafone, O2 and Three.
It also has a monopoly over national TV and radio broadcasting, as well as digital and satellite services for international clients including Canal+ and Freeview.
It comes after Vodafone announced plans to spin off its mobile mast business and explore a potential initial public offering, in a move that will create Europe’s largest telecoms towers company.
Read more: Vodafone shares rise as it mulls stock market float for mobile mast business
Arqiva pulled in revenue of £683m in the year to the end of June 2018, with a sharp rise in pre-tax profit to £364m.
Arqiva declined to comment.
Main image credit: Getty