Verizon pressures Vodafone to relinquish VZW stake

Verizon Communications CEO Ivan Seidenberg has said he will dial up the pressure on European telecoms giant Vodafone to sell its 45 percent partner stake in Verizon Wireless. Speaking to The Financial Times, Seidenberg said he wants full control of the company's mobile unit, adding Verizon plans to be "the hunter" in future industry consolidation. Verizon failed in a 2006 bid to acquire Vodafone's share of Verizon Wireless, but Seidenberg notes this time might be different given the upcoming transfer of power from outgoing Vodafone CEO Arun Sarin to incoming head Vittorio Colao. "Maybe [Colao will] want to do something different," Seidenberg said. "The out has to come when Vodafone comes and says ‘Hey, we'd like to change our ownership level.' And when and if they do that, they know how to find me." Vodafone and Verizon (then Bell Atlantic) announced the $90 billion joint venture that would become Verizon Wireless in September 1999--analysts estimate that Vodafone's stake is presently worth about $60 billion.

For more on Seidenberg's plans:
- read this Financial Times article

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