Vodafone says no to change in Verizon stake
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InfoWorld - Vodafone Group intends to keep its stake in Verizon Wireless, despite a proposal submitted by a large shareholder recommending a change in the holding.
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US telecoms firm Verizon is reported to have won the backing of mobile partner Vodafone for a bid for US rival Sprint.
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Vodafone on Friday dismissed an inquiry from the Indian authorities, who are seeking about $2bn in tax from the UK company following its $10.9bn takeover of Hutchison Essar, India&#39;s fourth-largest mobile phone operator.
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VODAFONE faces losing its last opportunity to gain an independent foothold in the US as the bidding war for Sprint, Americaâs top US mobile operator, heats up.
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Vodafone Group on Monday denied a newspaper report it is considering making a $160 billion bid for its U.S. partner in the wireless phone business, Verizon Communications.
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Vodafone has denied a report that it is buying Verizon for $160 billion--but says it is contemplating a deal.
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Telecommunications provider Vonage  Holdings Corp.  said on Wednesday that it is not buying  back shares that were allocated for its customers to purchase  in its initial public offering last week.
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British-based mobile phone group  Vodafone  said on Monday it had no plans to bid for U.S.  group Verizon Communications Inc , denying a media  report.
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Verizon Wireless said Tuesday it won&#39;t oppose the Federal Communications Commission&#39;s decision to grant Nextel Communications Inc.
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Vodafone KK President Shiro Tsuda has said the company will stop offering new second-generation cell phone handsets in 2005 to force customers to switch to 3G handsets.
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(InfoWorld) - Shareholders of Vodafone Group soundly rejected a proposal to spin off the company's stake in Verizon Wireless on Tuesday, signaling they want the British mobile operator's management to stay the course. Vodafone, which has cellular businesses in 23 countries around the world, owns 45 percent of Verizon Wireless. Incumbent wireline carrier Verizon Communications holds the other 55 percent. Efficient Capital Structures (ECS), an investor group, presented a resolution for Vodafone's Tuesday annual meeting that called on the carrier to either create a new holding company consisting of its stake in Verizon Wireless or create a separate tracking stock so investors could choose to buy into that part of Vodafone. ECS argued investors can't take advantage of Verizon's success today. "The investment is 'buried' within Vodafone's Emerging Markets division, preventing the market from valuing it directly," ECS Chairman Glenn Cooper said in a statement to shareholders. He also argued that because Verizon uses CDMA while the rest of Vodafone's networks are based on GSM, it should be broken out. However, less than 5 percent of Vodafone shares were voted in favor of the resolution, one of a series of proposals by the group that the company's board opposed. All of them were voted down. Verizon Wireless is one of the two dominant mobile operators in the U.S. Rival AT&T has 62 million subscribers to Verizon's 60 million, but Verizon had slightly more revenue last year at about US$38 billion. Vodafone's stake in the operator gives it a toehold in the U.S. mobile market but doesn't allow it to run its own business or build up its brand. Vodafone tried to acquire AT&T Wireless in 2004 before that company was acquired by Cingular. Joint ownership also leaves Verizon Communications without full ownership of its cellular business, which rival AT&T now has. That may make it easier for AT&T to bundle wired and wireless services for subscribers. Last week,Â Vodafone denied reports that it was considering buying all of Verizon CommunicationsÂ and then spinning off the wireless business. Vodafone had 198.6 million customers across Europe, the Middle East, Africa, and the Asia-Pacific region at the end of last year. Â
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US telecom giant ATT is not considering a bid for mobile phone operator Vodafone, but is likely to make smaller acquisitions to better meet the needs of multinational companies, the company&#39;s chief executive said in an interview published Tuesday.
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Shares in Vodafone Group Plc, the world&#39;s largest mobile-phone operator, dropped after The Wall Street Journal said the company is considering bidding with US partner Verizon Communications Inc.
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Row goes to arbitration Vodafone is still refusing to officially recognise the Connect union, which is so keen to represent its members it has taken Vodafone to the government's Central Arbitration Committee to force recognition.â¦
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Verizon (VZ:NYSE - news - research) reportedly is weighing a bid for Sprint (FON:NYSE - news - research) after Vodafone (VOD:NYSE - news - research), with which it jointly owns Verizon Wireless, signed off on the move.
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Beleaguered Vodafone chief executive Arun Sarin has said that he had enough support to defeat a shareholder revolt to remove him from heading the British mobile phone giant.
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(InfoWorld) - Vodafone Group has denied a Monday report by the Financial Times that it was considering buying Verizon Communications in a huge $160 billion deal. The paper, citing unnamed sources, said the international mobile operator was contemplating such a deal but hadn't approached Verizon and wouldn't necessarily go ahead with it. But Verizon's shares were up $1 at $42.76 in afternoon trading on the New York Stock Exchange. Vodafone issued a statement to the London Stock Exchange to squelch the report. "Vodafone notes press speculation that it is considering a possible offer for Verizon Communications. Vodafone wishes to make it clear that it has no plans to make such an offer," the statement said. Vodafone owns 45 percent of Verizon Wireless, the rest of which is owned by incumbent wireline carrier Verizon Communications. The dual ownership could tie Verizon's hands as it goes up against rival AT&T, which now owns all of its mobile business and is moving toward "quad-play" bundles of broadband, video, wireline voice, and mobile services. The arrangement gives Vodafone a stake in a profitable U.S. mobile business but doesn't allow it to chart its own course in the market. Vodafone tried to acquire AT&T Wireless in 2004 but was outbid by Cingular. The company has expanded aggressively in other countries, including Germany, where it bought Mannesman in 2000. Buying all of Verizon would create a company valued at about $300 billion. But as part of the deal, Vodafone might spin off Verizon's wireline business in order to build an all-wireless carrier, the Financial Times said. Verizon is the second-largest U.S. carrier behind AT&T in both wired and wireless customers. It had 60.7 million wireless subscribers and 7.4 million broadband customers at the end of the first quarter. Its Fios TV fiber-to-the-home service had attracted about 348,000 households. Verizon also operates a global enterprise communications business. Vodafone, based in Newbury, U.K., had 198.6 million customers across Europe, the Middle East, Africa, Â and the Asia-Pacific region at the end of last year.