Verizon says 'no plan' to sell enterprise and data centres

11 November 2015 | Alan Burkitt-Gray


Verizon’s CFO, Fran Shammo, has denied reports that the company is considering the sale of its enterprise and data centre business.

Speaking at Wells Fargo’s technology, media and telecoms conference in New York, Shammo said the report on Reuters was “factless conjecture with no foundation”.

Reuters cited “people familiar with the matter” in a report that Verizon was considering selling its enterprise networks and data centre businesses and was hoping to make $10 billion from the sale.

Shammo told the conference: “This is part of our portfolio and we’ll continue to support it.”

The enterprise business includes the former MCI, now Verizon Business, which Verizon acquired in 2006 for $8.4 billion, and the former Terremark Worldwide which it bought in 2011 for $1.4 billion.