No news is bad news for Vodafone today particularly when it involves any dividend from Verizon Wireless, the company's joint venture with Verizon Communications.
As it is Verizon Communications communicated their Q2 results today but in the question and answer section were asked about the timeline for the Verizon Wireless "distribution" by Jason Armstrong, Goldman Sachs.
The response (on transcript) from Francis J. Shammu, Executive Vice President and Chief Financial Officer - Verizon Communications looks quite brusque on transcript as follows:
"On the Verizon Wireless dividend, I know there has been a lot of press lately out there, and I'm not sure where this idea is coming from. But I can tell you right now -- the only thing I will say is that there is no distribution on the agenda for the upcoming Verizon Wireless Board, and that is probably all I am going to say at this point in time."
So doesn't sound too promising and sounds more like a "no comment" defence.
The inevitable result being a fall in Vodafone's share price during afternoon trading given that there is already expectation that the company's own announcement will detail slowing growth in Europe with Italy providing the drag.
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