Verizon Wants Vodafone Out of its Wireless Division
Verizon let the cat out of the bag on Friday, basically throwing its partner-in-crime Vodafone under the bus. CEO of Verizon Communications Ivan Seidenberg gave a rather candid interview explaining his feelings about the 45% owner of Verizon Wireless, and it wasn’t all roses.
Seidenberg told the Financial Times that he wants 100% ownership of VZW. “Would I like to have 100 per cent of the earnings given we’re doing 100 per cent of the work? Yeah, I would.” This statement was in reference to the fact Verizon Communications was the sole decider of operating strategy.
Seems logical that if Vodafone isn’t pulling its weight in the partnership, it’s not much of a worthy partnership for the ones doing all the work. Seidenberg was quick to say in Vodafone’s defense that they have been a great partner, but how believable is that statement when compared to the frustration that they aren’t doing any of the work?
Seidenberg is quite optimistic about the change in command that Vodafone will be experiencing next month, when Vittorio Colao takes the reins from Arun Sarin. “Maybe he’ll want to do something different,” he said. In other words, Seidenberg is hopeful Sarin will have a new strategy up his sleeve to bring something to the table.
Does this interview mean Verizon wants to buy the remainder of Vodafone’s shares? Or is Ivan Seidenberg simply venting about the lack of collaboration between the two companies and looking for a change? There’s no way of telling at the moment, but kick back and see what kind of changes happen when Vodafone changes its leadership.
via Financial Times