Verizon Squashes Buyout Reports
Verizon Communications CEO Lowell McAdam said that the company is not holding discussions with partner Vodafone to purchase the remaining shares of Verizon Wireless. Verizon Wireless is a joint venture between Verizon Communications and Vodafone. Verizon Communications owns 55% of Verizon Wireless and Vodafone owns the remaining 45%. Reports surfaced earlier this week suggesting that Verizon Communications is looking to buy out its partner's stake in the joint venture. Lowell's comments, made to Reuters, put a stake in those reports.