Chief Financial Officer Verizon Communications Inc. (NYSE:VZ), Fran Shammo stated that he’s tired of answering questions’ regarding the firm’s relationship with Vodafone Group Plc (ADR) (NASDAQ:VOD).
The analysts at a JPMorgan Chase & Co. (NYSE:JPM) conference lifted the topic to Shammo today among speculation that Verizon will look for takeover Vodafone’s shares in their joint venture, Verizon Wireless.
Shammo’s firm started briefing analysts previous month on how much it was be willing to pay for the 45% stake, people familiar with the matter declared then.
Shammo refused to offer his perspective today, declaring only that he was weary of the subject. Along with the declaration of a $7B dividend by Verizon Wireless yesterday, the CFO’s ambivalent reaction left New York-based Verizon’s strategy open to interpretation.
An analyst at Macquarie Group Ltd. in New York, Kevin Smithen stated that this could have been an olive branch, and now they will take a softer move toward to obtain them to the table.
Smithen that has a neutral rating on Verizon, stated that he still thinks a deal for Vodafone (VOD)’s stake will come in the coming few months. He wouldn’t interpret too much into any of it, he said of Verizon’s newest actions.
According to a filing yesterday, Verizon will got $3.85B from the dividend, whereas Newbury, England-based Vodafone will obtains $3.15B.
The people familiar with the matter declared previous month that Verizon has conversed with analysts that it thinks the reasonable value of Vodafone’s stake is around $100B. Talks among managers of both companies over a contract have never amounted to much, in part for the reason that Vodafone doesn’t see the $100B offer as a reasonable opening bid, the people added.
