British mobile operator Vodafone said it did not need to sell part of its stake in its highly profitable Verizon Wireless joint venture in the United States to bolster its business in Europe.
Chief executive Vittorio Colao said Vodafone had a healthy balance sheet and could invest when it needed to, adding it could step up its range of services without having to make acquisitions.
Mr Colao said: "The two things are not totally linked.
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