UK operator Virgin Media O2 began scoping-out potential buyers for at least half of its stake in joint venture Cornerstone Telecommunications Infrastructure (CTIL), Financial Times (FT) reported, with its share in the company estimated to be valued at around £1.5 billion.

Virgin Media O2 owns half of CTIL, with Vodafone Group infrastructure spin-off Vantage Towers holding the remainder.

FT noted the initial plan was for Virgin Media O2 to sell half of its stake in CTIL, but depending on the offers received it could consider selling its entire interest in the venture.

A sale would come as little surprise given the regular rumours surfacing in the UK media questioning the future of the half currently owned by Virgin Media O2.

CTIL was founded in 2012 as a joint venture between Vodafone and Telefonica.

In January 2021, Vodafone transferred its stake in the business to Vantage Towers. At the time CTIL managed 14,200 macro and 1,400 micro sites, with a commitment to add 1,200 more macro sites by the end of March 2025.