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Vodafone UK boss sees no changes to UK network assets under new CEO

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Vodafone UK boss sees no changes to UK network assets under new CEO
A branded sign is displayed on a Vodafone store in London, Britain May 16, 2017. REUTERS/Neil Hall   -   Copyright  Neil Hall(Reuters)
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NEWBURY, England (Reuters) – The new chief executive of Vodafone <VOD.L> is not considering making any changes to the mobile phone group’s CTIL Tower Infrastructure joint venture with Telefonica <TEF.MC>, Vodafone UK boss Nick Jeffery told reporters on Thursday.

Vodafone CEO Vittorio Colao will be replaced by Nick Read, finance director since 2014, in October. Read said at a conference last week that Vodafone could sell some network assets such as towers, but Jeffery said that would not happen in Britain.

“That part of Nick Read’s discussion is done in the UK. We already have a tower company in the UK -CTIL, which we co-own with Telefonica so in a sense you can take the UK out of the discussion,” Jeffery added.

Vodafone and Telefonica have a joint venture CTIL that manages the infrastructure for both companies’ UK mobile networks.

(Reporting by Paul Sandle, writing by Sarah Young, editing by James Davey)

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