Verizon Wireless IPO Delay Could Mean Trouble for Other Offerings

Verizon Wireless announced this evening the postponement of its initial public offering , citing volatile market conditions. The move is likely to cast a pall over other wireless offerings as companies reassess their chances, given the beating telcos shares have taken in recent months.

Verizon Wireless' statement, which does not indicate a new timeline for the offering, follows a Credit Suisse First Boston report published today that suggested the $5 billion offering would be delayed until next year. The IPO was planned for this fall and would have been increased to at least $10 billion if market conditions looked favorable, according to one telecom banker familiar with those plans. Verizon Wireless is a venture between Verizon (VZ Quote) and the U.K.'s Vodafone(VOD Quote).

Any wireless telecom player looking to get a deal done now with U.S. investors will have a hard time, says A.G. Edwards analyst Anthony Ferrugia. "Telecom in the U.S. is pretty weak across the board, including wireless," he says. "Anyone looking at wireless in the U.S. is going to face the same thing." ...