Vodafone in talks to sell Verizon Wireless stake

Shares in Vodafone rose 8.5 per cent following Vodafone’s confirmation of talks with Verizon Communications

Vodafone has confirmed it is in discussions with US telecoms company Verizon Communications regarding the sale of its 45 per cent stake in its wireless division.

Responding to press speculation, Vodafone said it did not know whether an agreement would be reached over the sale of its stake, estimated to be worth $100 billion (£64.5 billion).

Shares in Vodafone rose 8.5 per cent in response to the announcement.

Vodafone said: “Vodafone notes the recent press speculation and confirms that it is in discussions with Verizon Communications Inc. regarding the possible disposal of Vodafone’s US group whose principal asset is its 45% interest in Verizon Wireless.

“There is no certainty that an agreement will be reached.”

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