Vodafone says no change in Verizon IPO plan

Vodafone said today it was sticking to its plan of floating its US joint venture Verizon when market conditions improved.

It dismissed a report in the Timesnewspaper today that it had set itself an end-March deadline for the initial public offering, which was originally planned for the end of last year.

Verizon, the biggest US wireless telephone company, was created by Vodafone and Verizon Communications. The initial public offering, one of a series that were pulled as telecoms markets tumbled last year, was expected to raise about $5 billion.

A Vodafone spokesman declined to be drawn on when Verizon Wireless would float.

Reuters