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Sept 3 (Reuters) - Verizon Communications Inc ChiefExecutive Officer Lowell McAdam on Tuesday did not rule outinternational expansion even as the company plans a $130 billionpurchase of Vodafone Group Plc's 45 percent stake inVerizon Wireless.
Verizon shares were down 4.4 percent at $45.31 in morningtrading. The deal was announced on Monday, a U.S. public holidaywhen financial markets are closed.
On a conference call with analysts on Tuesday, ChiefFinancial Officer Fran Shammo also said that the company wouldstill expect to be able to participate in upcoming wirelessairwaves auctions, despite a plan to take on more than $60billion in new debt to pay for Verizon Wireless.
While McAdam ruled out an expansion into Canada's wirelessmarket, which the company had previously considered, he said itwould look at other international opportunities, as its wirelinebusiness already has overseas assets.
On top of all this, the executives said the company wouldpay down the debt from the Vodafone deal "as quickly aspossible" and that they hoped to return Verizon to its previousinvestment-grade credit rating in four to five years.
Some analysts had said they were worried that Verizon'shands would be tied on any additional spectrum purchases orcorporate acquisitions while it concentrates on paying off debt.
Verizon is taking full ownership of the wireless venture soit can get a 100 percent of the profits from the business. Itexpects this to increase its earnings per share by 10 percentafter debt interest payments.
McAdam also told analysts that full ownership of VerizonWireless would help Verizon more easily integrate its wirelessand wireline networks. This would help the company offerservices like mobile commerce, mobile video and mobileadvertising, which need both wireless and wireline networksupport, he said.
McAdam had said on Monday that he decided against a fullmerger with Vodafone because just buying the Verizon Wirelessstake made more sense.
