Vodafone CEO weighs up pros and cons of exiting Verizon Wireless

16 Nov 2012

Vodafone Group CEO Vittorio Colao has confirmed that he is pleased with Vodafone’s minority role in 45:55 joint venture Verizon Wireless, but said that the UK-based mobile group remains open to exiting the carrier at a future date. Reuters quotes the chief executive as saying: ‘Verizon Wireless is in the biggest, most attractive market in the world, and it is the leading company in terms of management and it is still going very well. Having said that … the board formally twice a year, and perhaps even more [often], looks at the portfolio. We look at the pros and cons and we look at the situation and the board makes that decision’. Speaking in Barcelona at the Morgan Stanley Technology, Media & Telecom Conference, Colao said that the dividend payments Verizon Wireless has started giving back to Vodafone represent ‘an extra layer of comfort’; Verizon Wireless intends to pay a USD8.5 billion dividend to its parent companies later this year.

United States, Verizon Wireless, Vodafone Group