Vodafone has decided to take their time in giving Verizon an answer on their offer to buy 45 percent stake. The company has been subject to internal conflicts over the last period, which makes reason for their lack of determination in giving Verizon an answer.

Vodafone should decide this week whether to sell up to USD 10 billion worth of its 45 percent stake in Verizon Wireless, which analysts consider to be worth around USD 45 billion. The company was supposed to give an answer until now, but it looks like they have not managed to reach a common point in their interests.

The problem with signing this deal has been that the value of Verizon wireless is not fully reflected in Vodafone's share price. Moreover, the unit is not expected to reinstate dividend payments until 2009. Vodafone shareholders have found themselves in a constant struggle for bringing the company's future in different directions, which has resulted in their failure in reaching a common decision.

One more issue is that such a major sale will place Vodafone on shaky grounds and even endanger its position on the market. Still, brokers show that the group could sell its US stake within the next year without causing a major drop in revenue, earnings and cashflow.

A small activist shareholder, Efficient Capital Structures (ECS), has made several calls over the last month for Vodafone to spin off the stake into a separately listed company. These demands have been rejected by company investors and set grounds for a series of arguments between parties.

Vodafone is currently examining all its options in the United States in order to make the best decision for the company's future development. Verizon Communications is the second-largest U.S. telecom operator and has long made pressures to buy Vodafone, or at least a major part of it.