Printed from http://www.electronista.com

Vodafone to hold on to Verizon stake?

updated 03:05 pm EDT, Tue August 7, 2007

Vodafone to keep Verizon?

The cellular carrier Vodafone is likely to decide, later this week, to keep its investments in America's Verizon Wireless, says an anonymous source cited by Reuters. Vodafone had been considering selling as much as $10 billion of its stake in Verizon, the total of which amounts to $45 billion. This is due to pressure from Vodafone shareholders, who have noted that the value of Verizon is not reflected in the former's share price, and that dividend payments will not be reinstated until 2009.

At one stage a shareholder called Efficient Capital Structures had been pressuring Vodafone to create a new company based on the Verizon stake, and the Financial Times had once suggested that Vodafone would expand its stake to total control. Both of these possibilites have been discounted.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

JBL Synchros E40BT headphones

For all the different configurations of headphones on the market, it's always a tough choice for buyers to get something that is just ...

Razer Taipan mouse

The list of gaming devices is growing larger with each passing day. A large number of companies have entered the gaming input arena, a ...

Cambridge Audio DacMagic XS

Every computer with a microphone or headphone port has one -- a digital to analog converter (DAC). There are nearly as many chipsets a ...

Sponsor

toggle

Most Commented

 
toggle

Popular News