Vodafone boss splits out Verizon Wireless stake

11 Sep 2008

UK mobile giant Vodafone’s new head Vittorio Colao has personally taken direct control of the group’s 45% share of US operator Verizon Wireless in a move that has started speculation the operator may be planning to exit North America.

Colao is interested in new investments in the expanding markets and the sale of Vodafone’s stake in Verizon could be expected to raise GBP25 billion (USD44 billion) to GBP30 billion for acquisitions in this area. However, the US wireless market is still growing, and the Verizon stock holding should increase in value over the coming years if Vodafone decides to sits tight.

United States, Verizon Wireless, Vodafone Group