Will Vodafone Win its Push For Verizon Dividends?
Vodafone is pushing for Verizon dividend and Chief executive Vittorio Colao of Vodafone will use an upcoming board meeting at Verizon Wireless to push for such resumption of its dividends.
Verizon Wireless at the moment has a joint venture between Vodafone, which owns 45 percent and Verizon Communications owns the rest, Verizon Communications since 2005 has been blocking dividends to try to force Vodafone to sell its stake to the US firm.
Â£33-billion is the estimated Vodafone’s stake worth, according to This Is Money Colao has declined to sell because it would mean that the group is liable for a 10-billion capital gains tax bill.
Apparently dividend payments could resume in 2012 according to Colao, it is only then that VZ will apparently finish paying off a loan that was acquired to Alltel in 2009 for Â£20bn.
We will keep you posted on the above news, as soon as we hear more you will be notified. Please join us on Facebook and Twitter for instant updates. Whilst we are on the subject of Vodafone you may want to read about the new European Data Roaming Charges.