[A Verizon IPO could help fund infrastructure investments and acquisitions.]

"Verizon Wireless, the US cellular phone service provider, on Thursday formally announced plans for a $5bn initial public offering.

"The company, jointly owned by Vodafone of the UK and Verizon Communications - created by the merger of GTE and Bell Atlantic's wireless businesses - said it had filed its intention to sell the stock with the Securities and Exchange Commission.

"The move by the US' largest cellular phone business comes as a number of American telecoms groups are planning listings for their mobile operations.

"BellSouth and SBC Communications are considering a listing of their combined wireless operations.

"The intention of such issues is to use the higher ratings accorded to wireless assets to fund infrastructure investment and acquisitions.

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