Talk benefits Vodafone with £6bn jump in share price

Speculation over the future of Vodafone’s stake in US mobile phone business Verizon Wireless fuelled a £6 billion jump in its share price yesterday.

The Newbury-based company holds 45% of America’s largest network but, with reports suggesting majority owner Verizon Communications wants full control of the business, its shares rose by as much as 7%.

The Newbury-based company holds 45% of America’s largest network but, with reports suggesting majority owner Verizon Communications wants full control of the business, its shares rose by as much as 7%.

A full merger of the two companies is one option. Vodafone was valued at £82bn prior to yesterday’s rally and Verizon is worth £90bn, making any such merger the biggest in history.

However, a straight sale of Vodafone’s stake in Verizon Wireless is seen as the most likely outcome.