Vodafone confirms talks with Verizon over US stake sale

Vodafone has confirmed it is in talks with US company Verizon Communications over the sale of its 45% stake in their joint venture, Verizon Wireless.

Reports earlier this year suggested that Verizon was looking to buy Vodafone's stake in Verizon Wireless for about $100bn (£64.5bn).

However, the latest reports say that Verizon may have to pay about $130bn for the stake.

Read more... Shares in Vodafone rose more than 7% on the news and Verizon climbed 3%.