Vodafone and Verizon Talk Join Venture Returns
The word is British carrier Vodafone is speaking with Verizon with a view to enhancing returns from their United States join venture reports an article over on topnews, and apparently Vodafone UK is pondering several options one of which is a full merger of the division.
Verizon Communications is the majority shareholder with 55% of the joint venture with Verizon Wireless and has apparently blocked the carrier from playing any dividends since 05 whilst looking at trimming down dept.
Word has it that the lack of dividends is just one of two reasons Vodafone is at loggerheads with Verizon Communications, the other being Verizon Communications wants to have total possession of the joint venture.
However, Vodafone has no wish to sell their 45% stake in Verizon Wireless, one reason being they would incur a large tax bill, and thus they have been trying to restore dividend payments.