With a cash infusion coming soon from the sale of its US business, British cellphone company Vodafone on Tuesday shot down speculation it might go “shopping” for new acquisitions, saying it would focus on investing in its networks in European and emerging markets.
Vodafone agreed this year to sell its 45 per cent stake in US mobile operator Verizon Communications Inc to Verizon for $130 billion in a landmark cash and stock purchase one of the biggest corporate deals in history. But Vodafone argued that, while it was always looking for good opportunities.