Verizon Communications has increased the pressure on Vodafone to sell out of Verizon Wireless, their mobile joint venture, saying that the second largest US telecommunications operator intends to be the hunter in future industry consolidation, according to the Financial Times citing from an interview with Verizon Communications CEO Ivan Seidenberg.

He said that Verizon, currently owner of 55 percent of Verizon Wireless, wants to acquire the 45 percent stake of Vodafone to become the sole shareholder. It follows almost two years in which both groups have played down the prospect of ownership changes at Verizon Wireless after a failed effort in 2006 by Verizon Communications to buy its UK partner's 45 per cent stake. At the same, this admission comes as Vodafone CEO Arun Sarin is about to hand over to Vittorio Colao next month. Seidenberg cautioned against the idea of Vodafone selling its Verizon Wireless stake in the near-term but noted Colao's impending promotion, saying: "Maybe he'll want to do something different." Verizon Wireless is set to become the largest US mobile operator after agreeing a USD 28.1 billion deal this month to buy its smaller competitor Alltel, which Sarin wanted Verizon Wireless to buy in 2007 when it was bought by the Texas Pacific Group and the private equity arm of investment bank Goldman Sachs. Verizon Communications, whose representatives have a majority of the seats on the Verizon Wireless board, decided against getting into a bidding war with private equity.

Source:Telecompaper