Verizon CEO says no Verizon Wireless buyout talks with Vodafone

LAS VEGAS Wed Jan 9, 2013 11:53pm IST

Lowell McAdam, Verizon's chief executive officer (CEO), speaks at the closing first day keynote at the Consumer Electronics Show (CES) in Las Vegas January 8, 2013. REUTERS/Rick Wilking

Lowell McAdam, Verizon's chief executive officer (CEO), speaks at the closing first day keynote at the Consumer Electronics Show (CES) in Las Vegas January 8, 2013.

Credit: Reuters/Rick Wilking

Related Topics

Stocks

   

LAS VEGAS (Reuters) - Verizon Communications (VZ.N) is not in talks with Vodafone Group Plc (VOD.L) about taking full ownership of their Verizon Wireless venture, despite market speculation this week that such a deal could happen, Verizon's top executive said.

"There's no discussions about it," Verizon Chief Executive Lowell McAdam told Reuters late on Tuesday at the Consumer Electronics Show in Las Vegas.

Verizon, which owns 55 percent of the wireless venture, has long said that it would be interested in buying out Vodafone if the 45 percent owner would sell its stake.

Vodafone shares rose 2.6 percent on Tuesday and added almost 8 points to the FTSE 100 Index, .FTSE the UK benchmark, after McAdam was quoted in a Dow Jones report saying that a deal could be feasible.

But McAdam said his comment did not mean that Verizon was any more likely now to be able to purchase Vodafone's 45 percent stake in Verizon Wireless than it was before.

"It's been feasible for 10 years," McAdams said. "There's nothing that's changed."

(Reporting by Sinead Carew; Editing by Leslie Gevirtz)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

ALIBABA IPO

Reuters Showcase

Ellison Quits

Ellison Quits

Oracle's Ellison steps aside, co-CEOs Catz and Hurd take over.  Full Article 

Inside  iPhone 6 Plus

Inside iPhone 6 Plus

Apple's iPhone 6 Plus includes chips from Qualcomm, Skyworks - iFixit  Full Article 

Cutting Jobs

Cutting Jobs

Microsoft lays off 2,100 as part of earlier job cut plan.  Full Article 

Robot Tech

Robot Tech

Qualcomm shows off robot technology, but mum on China dispute.  Full Article 

Deal Talk

Deal Talk

SAP agrees to buy expense software maker Concur for $7.3 bln  Full Article 

Banking on PlayStation

Banking on PlayStation

Sony hopes for PlayStation profit boost as smartphones struggle.  Full Article 

Facebook Name Policy

Facebook Name Policy

San Francisco drag queens meet with Facebook over name policy  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage