Virgin Media O2 recently sold a 16.67% stake in its mobile tower joint venture, Cornerstone Telecommunications Infrastructure Limited (CTIL), to GLIL Infrastructure for £360 million. This sale, executed through a holding company, enables Virgin Media O2 to partially monetize its extensive UK tower infrastructure—comprising approximately 20,000 mobile masts—while retaining operational control. The company will continue co-managing Cornerstone with Vantage Towers, which holds the remaining stake, ensuring that Cornerstone remains integral to Virgin Media O2’s network strategy.

This move aligns with Virgin Media O2’s goal to expand 5G and boost 4G coverage, particularly in both urban and rural areas. GLIL Infrastructure, a UK pension fund-backed investment group, sees this acquisition as a way to diversify its portfolio into high-quality infrastructure assets. The partnership reflects a growing trend among telecom companies to spin off or monetize network assets to fund large-scale network rollouts and upgrades.

This transaction is expected to close shortly, leaving Virgin Media O2 with a strengthened capital position to pursue further network investments across the UK​.