Vodafone has reaffirmed its interest in its US presence and, by doing so, has begun to receive more criticism from shareholders who have called for a divestment of their minority, though sizeable, stake in Verizon Wireless.
What these shareholders must realize is that, as the most likely buyer, Verizon reduces the price it is prepared to pay every time they hear these criticisms.
Reaffirming their interest is a way of negotiating a better price from Verizon.
This is a good strategy.
Onésimo Alvarez-Moro
See article:
Vodafone has no immediate plans to sell its 45 per cent stake in Verizon Wireless, the US mobile phone operator, Verizon Communications said on Tuesday.
Ivan Seidenberg, Verizon Communications' chief executive, said Arun Sarin, his counterpart at Vodafone, had told him the UK mobile operator was "pleased with their position in the partnership" and would keep a stake in Verizon Wireless "for several years". The two chief executives met at a Verizon Wireless' board meeting last week. Mr Seidenberg said they had agreed a long-term growth strategy for the joint venture.
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