Verizon Kills Buyout Reports

Posted by at 11:37 am on January 10, 2013

Verizon Communications CEO Lowell McAdam said that the company is not holding discussions with partner Vodafone to purchase the remaining shares of Verizon Wireless.

Verizon Wireless is a joint venture between Verizon Communications and Vodafone. Verizon Communications owns 55% of Verizon Wireless and Vodafone owns the remaining 45%. Reports surfaced earlier this week suggesting that Verizon Communications is looking to buy out its partner’s stake in the joint venture. Lowell’s comments, made to Reuters, put a stake in those reports.

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