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Equitix

  • Virgin Media O2 sells Cornerstone Towers stake as revenue dips

    telecoms

    Virgin Media O2 has announced the sale of a stake in its mobile towers joint venture, Cornerstone, to infrastructure investor Equitix, bagging £186m in cash. The deal, which leaves the telco with just over 25 per cent of Cornerstone after selling 8.33 per cent, involves a 16.66 per cent stake in a holding company that [...]

    Virgin Media O2's latest divestment comes as many telcos seek to deleverage and unlock funds for major investment drives.

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