Arun Sarin continues to answer the question that continues to be asked. During a conference call earlier today the Vodafone Group chief once again said the British mobile phone giant has no plans to liquidate its 45% stake in Verizon Wireless. Sarin has faced pressure to boost shareholder value and dividend payments. Selling to partner Verizon Communications Inc. would mean a $45 billion to $50 billion payday. Maybe even more. Verizon's reluctance to fork over that much money and Vodafone's aversion to an outsized tax bill are impediments. Sarin can't be eager to exit a profitable and well-run carrier in the U.S. market, either. But Vodafone's days of global ambition appear to have passed, and you can assume Sarin will continue to hear the question until he provides a different answer.
It's not as if Sarin hasn't raised the question himself—albeit in a very different context. In case you've forgotten how close Vodafone was
to selling the Verizon stake, read Josh King's inside account of the
company's role in the AT&T Wireless auction two years ago, published today in
Corporate Dealmaker. —Chris Nolter
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