A carve-out of Vodafone New Zealand’s passive mobile tower infrastructure, Fortysouth is New Zealand’s largest independent tower company, with over 1,500 wholly owned towers covering 98% of New Zealand’s population.
Fortysouth owns and operates the passive tower infrastructure (e.g. towers, masts, poles), with Vodafone New Zealand retaining responsibility for the ‘active’ telecommunications equipment mounted on the towers. Mobile towers are critical infrastructure that underpin mobile connectivity and wireless broadband across New Zealand.
Fortysouth benefits from a long-term, availability-based revenue contract with Vodafone NZ, that is indexed to inflation. The initial term of the agreement is 20 years with the option of two 10-year extensions. Vodafone New Zealand has contractually committed to additional sites over the next ten years which will increase Fortysouth’s asset base and revenues over this period.