Verizon Wireless, one of the largest US initial public offerings in the pipeline, is to withdraw its $5bn (€4.6bn) IPO filing, adding to the gloom in the new issue market.

Goldman Sachs and Merrill Lynch were due to lead the flotation of the joint venture between Verizon Communications, the US telecoms firm, and Vodafone, the UK mobile company.

Shanny Basar

Verizon Communications

Goldman Sachs

Vodafone

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Verizon Wireless withdraws jumbo US IPO

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