Vodafone Chief Executive Officer, Vittorio Colao, has said that he won't rule out selling its 45 per cent stake in Verizon Wireless, according to reports on Bloomberg.
Speaking at a conference in Barcelona, Colao denied that Vodafone relies on Verizon Wireless dividends to fund payouts to his shareholders.
Vodafone owns 45% of Verizon Wireless, with the balance owned by its parent Verizon Communications.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
This week Verizon Wireless said it would pay out $8.5bn in dividends, with Vodafone's share being $3.83bn.
Analysts at UBS said in a note, issued on Wednesday, November 14th, that these dividends "could prove more frequent and larger than consensus forecasts".
CM
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
