Vodafone to create European mobile mast company with potential for IPO

Vodafone said on Friday it would separate its mobile mast infrastructure in 10 European markets into a new organisation that it potentially could list, in a move it said would unlock value for shareholders.

The world's second largest mobile operator announced the spin off along with a first-quarter trading update on Friday that saw group service revenue decline by a better-than-expected 0.2%. It said a gradual recovery in its previously weak top line would continue.