Vodafone to keep stake in Verizon Wireles

Vittorio Colao, Vodafone's new CEO, said the UK company had no plans to sell its stake in Verizon Wireless, the US' biggest mobile network operator.

Colao said Vodafone's board had an "open mind" about the future of its 45% stake in Verizon Wireless, but stressed the company currently thought to "stay where we are is the best thing," the Financial Times reports.

He was also quoted saying that Nigeria, Africa's most populous country, might be of interest to Vodafone.

Ivan Seidenberg, CEO, Verizon Communications, the US telecoms company that owns 55% of Verizon Wireless, said in June the company would like full ownership of the mobile operator.

Former Vodafone CEO Arun Sarin had resisted Seindenberg's offer to buy Vodafone out in 2006, when some UK investors were calling for Vodafone to leave the US market.

Colao pointed to synergies that would be achieved through Verizon Wireless completing its purchase of Alltel, a smaller US mobile operator, next month for US$28 billion. It will make Verizon the biggest US mobile operator in terms of customers.

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