Vodafone, Telefonica commercialise Cornerstone infrastructure venture

Mon, 11th Jan 2021

Telecom company Vodafone said it and Telefonica had agreed to commercialise their Cornerstone Telecommunications Infrastructure joint venture. The two companies had entered into long-term master services agreements with Cornerstone, with initial terms of eight years from 1 January 2021. The agreements had three eight-year renewal periods and established Cornerstone as a preferred supplier of new sites for both operators. Cornerstone owned and managed Vodafone and Telefonica's passive tower infrastructure in the UK. Vodafone said it intended to transfer its 50% shareholding in Cornerstone to Vantage Towers this month. Story provided by StockMarketWire.com

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