Shareholders in Vodafone are weighing whether the British group should sell its $115 billion stake in Verizon Wireless.
Shares in Vodafone had increased by more than 25% since the beginning of 2013 on hopes it would either return cash to investors if it sells its 45% stake in Verizon or just sell the whole business to Verizon, its majority owner.
Verizon Communications said in a released statement it had not intention of acquiring Vodafone, the world's seconod largest mobile operator, whose shares closed down 3% following the announcement.
Lowell McAdam, Verizon's chief executive, declined to comment on the plans of the company with respect to Vodafone at a New York Press event to launch a technology contest.
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