Vodafone stock rises with talk of Verizon sale


According to sources Vodafone may be selling its 45 per cent stake in Verizon Wireless, freeing it up to make acquisitions in Europe

Vodafone’s stock has risen 6 per cent following rumours it is selling its stake in Verizon Wireless to Verizon.

Vodafone currently owns 45 per cent of its joint venture with the American operator, but sources quoted by Bloomberg say Verizon is looking to “resolve” this relationship.

This could mean a merger between Vodafone and Verizon, though a buy-out of Vodafone’s stake by Verizon is more likely.

Analysts say a sale would free Vodafone up to make acquisitions and investments in Europe, including potentially buying Kabel Deutschland, Germany’s largest cable operator.

However, Verizon chief financial officer Fran Shammo told a financial conference this week that “there was nothing new to report on the Vodafone venture, and that Verizon has always been interested in owning all of the US wireless business.”