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UPDATE 2-Zegona mulls ending Vantage Towers contract over Spain rates, Bloomberg News reports

Reuters·10/16/2024 18:02:49
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UPDATE 2-Zegona mulls ending Vantage Towers contract over Spain rates, Bloomberg News reports

Updates comments from companies in paragraph 4

- Zegona Communications ZEG.L is considering terminating a long-term contract with telecom network provider Vantage Towers over prices charged by the Germany-based company, Bloomberg News reported on Wednesday.

The British telecom investment company has been negotiating lower prices for Vodafone Spain, which it bought last year, and may shift to a different tower provider if Vantage does not reduce the annual fees by 50 million euros ($54.34 million), the report said, citing people familiar with the matter.

Vodafone Spain has approached other tower companies in Spain, including Cellnex Telecom SA CLNX.MC, American Tower Corp AMT.N and Orange SA's ORAN.PA Totem, to assess costs and feasibility, the report added.

Vantage Towers, Cellnex, did not immediately respond to Reuters requests for comment, while Zegona, American Tower and Orange declined to comment.


($1 = 0.9202 euros)


(Reporting by Aatrayee Chatterjee and Anandita Mehrotra in Bengaluru; Editing by Shounak Dasgupta, Devika Syamnath and Alan Barona)

((Aatrayee.Chatterjee@thomsonreuters.com))