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

Thank you for visiting Telecompaper

We hope you've enjoyed your free articles. Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.


Already registered?

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

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

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Vodafone values Verizon Wireless stake at USD 130 bln

Published 02 Sep 2013 08:37 CET | World
Vodafone has confirmed the price tag for its 45 percent stake in Verizon Wireless, at USD 130 billion. Responding to press ...

Vodafone confirms talks to sell Verizon Wireless stake

Published 29 Aug 2013 09:07 CET | United States
Vodafone Group confirmed it's in talks with Verizon Communications to sell its 45 percent stake in their US joint venture Verizon ...

Vodafone forecasts further growth in operating profit

Published 21 May 2013 08:53 CET | World
Vodafone Group reported a small rise in annual adjusted profit, in line with its outlook, and forecast further growth in the ...

Verizon Wireless to pay USD 7 bln in dividends

Published 14 May 2013 08:51 CET | United States
Verizon Wireless has approved a dividend worth USD 7.0 billion for its shareholders Verizon Communications and Vodafone. The ...

Verizon expands LTE network in new areas

Published 10 May 2013 22:11 CET | United States
Verizon Wireless has announced it has expended its LTE network in new areas including: New London County, Hartford, Tolland and ...

Verizon to market building in Brooklyn

Published 07 May 2013 22:48 CET | United States
In a move to consolidate its operations and contribute to the Manhattan and Brooklyn economies, Verizon plans to market about ...

Vodafone shareholders want higher bid for Verizon stake

Published 29 Apr 2013 14:53 CET | World
Six major Vodafone investors said USD 100 billion was not enough for the company's 45 percent stake in US mobile operator Verizon ...

Verizon plans USD 100 bln bid for Verizon Wireless - report

Published 25 Apr 2013 11:00 CET | United States
Verizon has hired advisers to prepare a possible USD 100 billion cash and stock bid to take full control of Verizon Wireless from ...

Verizon denies reported Vodafone bid

Published 03 Apr 2013 09:14 CET | United States
Verizon has denied any plans to make a bid for or merge with Vodafone. In a SEC filing, the US operator reiterated it was ...

Verizon, AT&T plan joint takeover bid for Vodafone - report

Published 02 Apr 2013 11:24 CET | World
US operators Verizon and AT&T are putting together a takeover bid for Vodafone, the Financial Times' Alphaville blog reports, ...

16.9% of Dutch mobile SIMs are with MVNOs
Netherlands  |  2017Q3