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Vodafone calls up Verizon deal

By Daily Mail Reporter
Updated: 04:20 EDT, 16 May 2011

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Vodafone is deepening its relationship with American partner Verizon - raising hopes for a lavish windfall from their US mobile phone venture.

The FTSE 100 giant, which declined to comment, is understood to be close to signing a deal that will see the two firms jointly sell mobile services to international companies.

They will also cut overheads by buying handsets and network equipment together.

Mobile venture Verizon Wireless, which is 45% owned by Vodafone, is expected to resume paying dividends by Christmas following a five-year hiatus.

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