Verizon Communications has reiterated its long standing desire to buy out Vodafone’s share in their joint venture mobile network, Verizon Wireless. Speaking to the Financial Times, Verizon CEO, Ivan Seidenberg confirmed that he still wanted total ownership of the wireless division, although he warned that he doesn’t expect Vodafone to sell in the near term.
Vodafone has repeatedly come under pressure to sell its holding in Verizon Wireless and return the cash to shareholders - although the company insists that it is in for the long haul. A shareholder rebellion by a tiny group, headed by Efficient Capital Structures fizzled out without much effort last year. Countering this has been the occasional rumour that Vodafone might bid to buy the entire of Verizon Communications - which considering the current market valuation would be a bargain for the company. However, it would almost certainly be a hostile takeover and would ruin the oft-fractious relationship between the two companies if it failed.
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