"That put optionis open until August 9 -- the board will make its decision in the next few weeks," said Sarin. He added, though, that Vodafone has had the same option for the past five years but has "not taken it because we thought the value of the business would increase."

    Vodafone's CFO, Andy Halford, also weighed in on the subject during the conference call, noting that Verizon Wireless is a "strong performer" that is likely to yield dividends in the next few years. "When the board thinks of Verizon, we consider which are the better alternatives, and we will continue to look at all the options. But the base case is that it's a very strong business." (See VZW Adds 1.3M in Q2.)

    Halford added that the decision to hold on to the 45 percent holding over the years, and not exercise the put option, had been, in retrospect, "a very good decision."