Vittorio Colao, chief executive of Vodafone, on Wednesday signalled that the UK company had no plans to sell its stake in Verizon Wireless, the leading US mobile phone operator.

Mr Colao said Vodafone’s board had an “open mind” about the future of its 45 per cent stake in Verizon Wireless, but stressed the company currently thought to “stay where we are is the best thing”.