Nov. 17 (Bloomberg) -- Verizon Communications Inc. said it hasn’t agreed to an annual payout from its wireless joint venture with Vodafone Group Plc.
Verizon, which controls Verizon Wireless, the largest U.S. wireless operator, wants to clear the remaining $3.1 billion of net debt, Verizon Chief Financial Officer Fran Shammo said today at a conference in Barcelona organized by Morgan Stanley.
The partners this year received the first dividend since 2005 from the venture. Verizon formerly withheld the dividend from the wireless partnership to focus on paying down debt.
“I don’t want debt on Verizon Wireless’s books,” Shammo said. “It’s too premature to set anything.”
--Editors: Robert Valpuesta, Kenneth Wong.
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