Verizon CEO denies Wireless buyout talks

Verizon CEO denies Wireless buyout talks

Verizon Communications CEO, Lowell McAdam, has denied that any buyout talks are taking place regarding Vodafone’s stake in Verizon Wireless.

Rumours of an acquisition of Vodafone’s 45% stake in the joint venture surfaced earlier this week, following a report in the Wall Street Journal.

McAdam told Reuters that no discussion was taking place and said that his comments in the article did not mean Verizon was any more likely to acquire Vodafone’s stake than it was before.

“It’s been feasible for 10 years,” said McAdam “There’s nothing that’s changed.”

Shares in Vodafone rose 2.6% on Tuesday as a result of the article stating that a deal could be feasible.

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