Vodafone Would Consider Offer for Its Stake in Verizon Wireless

Vodafone Group Plc (VOD) Chairman Gerard Kleisterlee told shareholders the company would consider an offer for its stake in Verizon Wireless, which partner Verizon Communications Inc. has said it’s interested in buying.

Vodafone, the second-largest wireless carrier, has no update on the situation, Kleisterlee said today at the Newbury, England-based company’s annual shareholder meeting.

“There is ongoing communication,” Kleisterlee said. “Everyone on the board, at every board meeting gets an update on where we are.”

Verizon Wireless is the biggest U.S. mobile-phone company. It reported last week that it added 941,000 mobile customers in the second quarter, and said sales grew 7.5 percent to $20 billion.

“If we see proposals that generate more value for shareholders we will consider them,” Kleisterlee said.

Verizon told analysts earlier this year that $100 billion is a fair price for Vodafone’s 45 percent stake, people familiar with the matter said at the time.

Vodafone is a “happy holder” of Verizon Wireless, Chief Financial Officer Andy Halford said in May.

To contact the reporter on this story: Amy Thomson in London at athomson6@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net

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