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NEW YORK and LONDON — Verizon Communications Inc. (NYSE:VZ) and Vodafone Group Plc (LSE, NYSE:VOD) today said recent news articles claiming that the companies disagree on wireless technology standards, or that Vodafone is seeking to acquire control of Verizon Wireless, the companies' U.S. joint venture, are mere speculation.
Verizon Wireless recently announced it would begin to deploy wireless data technology based on initial standards for CDMA 2000, the logical next step from what Verizon Wireless has deployed today, and which will substantially increase data transmission speeds. Verizon Wireless' long-term migration path to 3G technology gives the company the flexibility to deploy different ultimate standards.
"Wireless is a foundation of Verizon Communications' long-term strategy and brand development," said Verizon President and Co-CEO Ivan Seidenberg. "We have an excellent working relationship with Vodafone, and we look forward to continuing to build Verizon Wireless with them."
Vodafone Group Chief Executive Chris Gent said, "We continue to work extremely well with our partners operating and developing Verizon Wireless, the largest wireless business in the U.S. The choice of any future technology will be made in the interest of both parties and with full awareness of the evolving technology trends in our industry."
Verizon Communications (NYSE:VZ) is one of the world's leading providers of communications services. Verizon companies are the largest providers of wireline and wireless communications in the United States, with nearly 109 million access line equivalents and more than 27.5 million wireless customers. Verizon is also the world's largest provider of print and online directory information. A Fortune 10 company with approximately 260,000 employees and more than $63 billion in annual revenues, Verizon's global presence extends to 40 countries in the Americas, Europe, Asia and the Pacific. For more information on Verizon, visit www.verizon.com.
Vodafone Group Plc (LSE, NYSE:VOD) is the world's largest wireless company. It has interests in 30 countries and operates across 5 continents around the world. For more information on Vodafone, visit www.vodafone.com.
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