LONDON-Vodafone plc denied reports that it plans to delay its planned flotation of U.S. joint venture Verizon Wireless, saying it is simply waiting for market conditions to improve.
The Times of London reported Vodafone is planning a delay from its end of March time frame, promoting speculation the British telecom giant may make a cash offer for the United States’ largest wireless carrier.
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The initial public offering, first scheduled for last August, is expected to raise $10 billion. Vodafone currently owns 45 percent of Verizon Wireless, with Verizon Communications owning the remaining 55 percent.