Utilize the input text as a context reference, choose the right relationship between Vodafone and Verizon from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

Having sold its US joint venture with Verizon , Vodafone has net debt to EBITDA of just 1.9x, which is significantly lower than many of its peers in Europe and North America.

Answer: subsidiary