Vodafone in USA mega-deal

Newbury-based Vodafone has confirmed it is in talks over a deal that will see it exit the United States through one of the largest corporate transactions of all time.

Berkshire-based Vodafone in $100 billion deal

Shares in the mobile phone giant, who have their HQ in Newbury, Berkshire, jumped 9% after it said it was in discussions with US partner, Verizon Communications, over a sale of its 45% stake in Verizon Wireless, which is America's largest mobile phone operator.

It is thought that Verizon wants to pay around 100 billion US dollars (£64.4 billion) for the stake, although reports have said that Vodafone is pressing for as much as 130 billion US dollars (£83.8 billion).

The Newbury-based company is likely to use the proceeds from any sale on major acquisitions or a return of cash to shareholders.

Vodafone notes the recent press speculation and confirms that it is in discussions with Verizon Communications 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.

– Vodafone

More top news