Vodafone rejects sale of Verizon stake

6 Aug 2007

British daily The Times writes that Vodafone will retain its 45% stake in Verizon Wireless, after opting not to exercise an entitlement to sell its USD54 billion stake in the US joint venture. Vodafone has until Thursday to exercise a ‘put’ option entitling it to sell up to USD10 billion of shares in the venture to Verizon Communications, its US partner, but it is understood that, after a review, it has opted to keep its interest. An announcement from Vodafone on its decision is expected this week.

United Kingdom, United States, Verizon Wireless, Vodafone Group