Vodafone to keep Verizon shares

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Vodafone had until Thursday to exercise an option to sell up to $10 billion of its shares in Verizon Wireless to Verizon Communications. The announcement is a blow to Verizon Communications who already own 55 per cent of Verizon Wireless.

A statement issued by Vodafone said: Vodafone announces that it has decided not to exercise its rights under its agreement with Verizon Communications Inc. to sell to Verizon up to 10 billion dollars of Vodafones interest in Verizon Wireless.

‘VZW is a market leading business with strong growth prospects and the Board of Vodafone continues to believe that retaining its full 45-percent interest is in the best interests of shareholders.’

 

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