UPDATE 2-Over 6 pct of shareholders rebel at Vodafone AGM

* Rebellion against chairman's re-election

* Shareholder complains about strategy, M&A

* Chairman says board regularly reviews minority stakes

(Adds details, quotes)

LONDON, July 27 (Reuters) - More than 6 percent of Vodafone (VOD.L) shareholders voted against the re-election of the group's chairman on Tuesday in protest at what they deemed to be a poor strategy that has hurt the firm's value.

The protesters, representing 6.53 percent of the telecoms group's shareholders according to proxy votes, were led by the Ontario Teachers' Pension Plan (OTPP), which holds 0.4 percent of the stock.

It went public last week with complaints over the firm's "significant structural and strategic weaknesses".

The OTPP said it would not back the re-election of Vodafone's Chairman John Bond and his deputy John Buchanan in protest at the group's "history of poor capital allocation and disastrous M&A".

It said it would support the re-election of Chief Executive Vittorio Colao however, as he has begun improving its operating performance.

Both Bond and Colao took the opportunity on Tuesday to say they worked well together and dismissed a media report which suggested that Colao did not back his chairman.

Earlier at the company's AGM in London, Bond said the board regularly reviewed the company's minority stakes in France, the United States and China, following the shareholder complaints over its strategy.

One major area of concern for shareholders is in the U.S., where Vodafone owns 45 percent of Verizon Wireless but does not receive a dividend. Its joint venture partner Verizon (VZ.N) has indicated it could start paying a dividend in 2012.

"Our goal is to negotiate from a position of strength with Verizon," Bond told the AGM. "(The stake) has been rising in value over the years so the decision not to sell yet has been the right decision.

"But there's only one buyer. This isn't a quoted company. We can't sell it on the market. So it's a question of trying to negotiate from a position of strength. If they see any weakness in our position I can guarantee you we'll get a very cheap offer." (Reporting by Kate Holton; Editing by Jon Loades-Carter and Andrew Callus)