Vodafone CEO Says No Hurry To Sell Verizon Stake

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Vodafone CEO Says No Hurry To Sell Verizon Stake

By David Haskin, TechWeb News

Despite ongoing reports in the media, Vodafone's CEO was quoted Tuesday as saying he is "happy" with -- and could hold on to -- his company's 45 percent stake in Verizon Wireless.

Stories in the last month have indicated that Vodafone is looking to sell its stake in the second-largest U.S. cellular operator. It reportedly spurned a $38 billion offer from Verizon Communications, the other co-owner of Verizon Wireless, but was said to be interested in a higher offer Verizon reportedly offered later.

However, Vodafone CEO Arun Sarin was quoted by Forbes and other news sources Tuesday as saying that he believed that the value of Verizon Wireless will increase for at least a couple of years.

"We see further improvement in value over a period of time," Sarin said in a conference call. "I don't know when the growth will slow down but it certainly won't be over the next couple of years."

He said that the company had no time line for divesting itself of its Verizon Wireless stake. Nor was it clear whether Sarin was indicating the unlikelihood of a sale in the near-term or whether he was positioning his company to receive a higher price.