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Mobile & Wireless

Verizon pressures Vodafone with dividend threat - report

Friday 3 May 2013 | 11:26 CET | News
Verizon CEO Lowell McAdam said the operator's priority for cash is paying off debt coming due rather than pay-outs to shareholders. The comments, reported by the Wall Street Journal from an investor meeting, appear aimed at putting pressure on Vodafone to consider Verizon's proposal of selling its 45 percent stake in their joint venture Verizon Wireless. Specifically, McAdam said the priority for Verizon Wireless's cash flow will be to pay down the USD 5 billion in debt coming due by mid-2014 before making pay-outs to owners. The comments were reported in a note by JP Morgan Chase analyst

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Categories: Mobile & Wireless
Companies: Verizon / Verizon Wireless / Vodafone
Countries: United States
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