The cell tower business has been a hive of activity for the past year, as pressurized operators look to release capital and monetize their site assets, while driving internal efficiencies. Vodafone plans to spin off all its towers, across Europe, into an arm’s-length company and then mount an IPO (initial public offering), It has now announced the details of its scheme, which will make its spin-off – to be called Vantage Towers – the biggest tower operator in Europe. Vantage Towers will be listed in Frankfurt and Vodafone will retain a majority shareholding. Vantage has controlling interests in towercos in Germany, Spain, Greece, Portugal, the Czech Republic, Romania, Hungary and Ireland, but only a minority stake in Italy and 50%…