Vodafone to continue holding stake in Verizon Wireless for the time being

Vodafone to continue holding stake in Verizon Wireless for the time being

Mobile industry giants Vodafone has revealed that that they would continue to retain its 45 percent stake in US company Verizon Wireless.

This announcement comes after the company was asked by an investor group to sell that stake and give the money back to the share holders.

Vodafone has said that their decision to continue holding their stake in Verizon is “in the best interest of shareholders at this time.”

The company added that the US based telecom company “has generated significant value accretion for shareholders in recent years reflecting its market leading position, superior growth and cash generation”.

Vodafone further said in its statement: “It remains confident that continued execution of this strategy will deliver sustained growth in value for shareholders.”