Feeds

Verizon says Voda 'will keep shares'

Good news for Sarin

New hybrid storage solutions

The news that Arun Sarin will be justified in staying as CEO of Vodafone is hardly going to be a surprise to Arun himself; he probably arranged the announcement by Verizon Wireless that "cellular partner Vodafone Group PLC has opted not to sell its 45 per cent stake in Verizon Wireless for at least the next few years".

The Associated Press report analyses the problem as "Verizon can't afford to buy Voda out" - because the success of Verizon Wireless has boosted shares beyond the company's purse.

But financial advisers to Voda are well aware the real threat isn't that the American will buy its global partner out: it's the fact that various financiers are preparing to asset-strip the "fast growth potential" of Voda subsidiaries in territories like Africa and South America to fund the takeover of the group.

Nonetheless, UK analysts are likely to be reassured.

"Full-ownership of Verizon Wireless' profit would help fund a hugely expensive upgrade of the Verizon's traditional phone network with fiber-optic lines to deliver TV and next-generation internet services. But as the cellular business has prospered, its market value has soared, fueling worries Verizon might be forced to take on too much debt to buy the Vodafone stake, now estimated to be worth well above $40bn," Business Week said today.

But the story made it clear that this statement arose from briefings by Arun Sarin to financial analysts.

Sarin - unpopular with UK and European analysts - commands strong admiration in US markets, where a firm statement of non-intent to buy Voda out means, effectively, that Voda still has a use for Sarin's services in wowing US investors.

Copyright © Newswireless.net

New hybrid storage solutions

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Apple Pay is a tidy payday for Apple with 0.15% cut, sources say
Cupertino slurps 15 cents from every $100 purchase
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Forget silly privacy worries - help biometrics firms make MILLIONS
Beancounter reckons dabs-scanning tech is the next big moneypit
Microsoft's Office Delve wants work to be more like being on Facebook
Office Graph, social features for Office 365 going public
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.