Skip to main content

Verizon hints it would be up for buying Vodafone’s share of the network

verizon storefrontVerizon is a joint venture owned by both Verizon Wireless and the Vodafone Group, however in an interview with the Wall Street Journal at CES 2013, Verizon’s CEO says a buyout of Vodafone’s stake in the company would be, “Feasible.” As it stands at the moment, Verizon Wireless has a controlling 55-percent stake, while Vodafone retains the other 45-percent.

The newspaper quotes CEO Lowell McAdam as saying, “We have always said we would love to own all of that asset,” to which he added he considers such a deal to be feasible as, “our wireline business is getting stronger and as that gets stronger, it makes it easier.”

Verizon was formed after Bell Atlantic and Vodafone got together in late 1999, following an opportune acquisition of AirTouch by Vodafone earlier in the year, a time when the U.S. mobile market was a very different place. A report by CNN Money says the two companies expected to initially serve 20 million wireless customers, considerably less than the 90 million subscribers it has today.

After dividend payouts dried up in 2006, the relationship between the two companies has been fractious, with talk from both sides about a buyout. In 2006, Verizon was reported to be in talks with Vodafone to buy back its share of the company, then in 2007, Vodafone was said to be considering a $160 billion offer for Verizon’s share. Despite these intentions, no deal was ever reached. An estimated $10 billion dividend payment was made in 2011, then another $8.5 billion in 2012, which has since smoothed over the relationship.

Despite all this talk of a buyout, Verizon’s McAdam told the WSJ, “I don’t feel compelled to go out and take action to make something happen,” indicating he’s only laying the groundwork should Vodafone be considering a sale. According to Bloomberg, Vodafone’s board reviews its investment in Verizon twice a year, and CEO Vittorio Colao has said he “wouldn’t rule out exiting the business in the future.”

As of now though, he said the partnership, “Is going very well,” a point which Verizon’s McAdam agreed with, saying the company is, “functioning well and consolidation of the ownership isn’t necessary.”

Editors' Recommendations

Andy Boxall
Senior Mobile Writer
Andy is a Senior Writer at Digital Trends, where he concentrates on mobile technology, a subject he has written about for…
Don’t buy this new Motorola phone — get this other one instead
Renders of the Moto G 5G (2024) and Moto G Power 5G (2024).

the Moto G 5G (left) and Moto G Power 5G Digital Trends

Budget phones can slip under the radar when shiny, powerful flagships launch. But if you're in the market for a smartphone that gets the job done and won't blow a four-figure hole in your bank balance, then a great budget smartphone is the way to go.

Read more
Get 32% off the cellular model of the iPad Pro 12.9 this weekend
The iPad Pro on a desk next to a stylus and AirPods.

If you've been thinking about getting the iPad Pro with cellular connectivity but you've been hoping to buy the tablet from iPad deals for a discount, this may be what you've been waiting for -- a 32% discount from Amazon's Woot on the 12.9-inch, Wi-Fi + Cellular model of the 2021 Apple iPad Pro with 128GB of storage. From $1,199, it's down to just $810, which is a steal price for this device with savings of $389. However, while there are still several days left on this offer, it's highly recommended that you proceed with the purchase immediately because there's a chance that stocks don't last that long.

Why you should buy the 2021 Apple iPad Pro 12.9
It's not the latest version of Apple's top-of-the-line tablet -- the honor goes to the 2022 Apple iPad Pro -- but the 2021 Apple iPad Pro is still a pretty powerful device by today's standards. That's because it's equipped with Apple's M1 chip, which promises fantastic speed and excellent graphics when you're working on your multimedia projects, multitasking between several apps, or playing console-level games. With its 12.9-inch Liquid Retina XDR touchscreen, you'll enjoy high-brightness and high-contrast content, and its mini-LED display provides deeper black levels and more vibrant colors.

Read more
Samsung Galaxy A55 vs. A54: all the big changes, explained
Renders of the Samsung Galaxy A55 next to the Galaxy A54.

Galaxy A55 (left) and Galaxy A54 Digital Trends

Samsung has been on a roll with new phone releases in 2024. At the end of January, Samsung released the flagship Galaxy S24 lineup. It's fantastic, but not everyone can afford the latest and greatest flagship. Thankfully, Samsung also makes budget-friendly alternatives, and that’s the appeal of the new Galaxy A55.

Read more