 Vodafone said its reached a deal to create a joint venture with GIP and KKR to hold the mobile operators 82 stake in Vantage Towers, which will also offer to buy the outstanding shares in the tower operator. Vodafone said it will result in minimum net cash proceeds of 3.2 billion, and a maximum of between 5.8 billion and 7.1 billion 7.1 billion, depending on the take-up in the voluntary offer and subject to GIP and KKR raising further equity. 