Vodafone eyes Nigeria and plans to keep Verizon Wireless stake - for now

21 Nov 2008

Speaking at a conference in Spain, Vodafone CEO Vittorio Colao revealed that the company was interested in establishing a presence in Nigeria. ‘It doesn’t take a very sophisticated analysis to see it is one of the very few large markets with decent GDP, a young population and the classic conditions for being interesting for Vodafone,’ he said. ‘Despite the fact that Vodafone has expanded its operations tremendously across emerging markets in the past two years with acquisitions in Turkey, India, South Africa and Ghana to make up for slower growth in Europe, the Nigeria telecoms sector is a prized and valuable market that we will be glad to operate in.’

In separate but related news, Colao also confirmed that though Vodafone was constantly assessing its stake in Verizon Wireless, it currently made sense to maintain its 45% stake in the cellco.

Nigeria, Verizon Wireless, Vodafone Group