Vodafone shares soar on bid talks

Vodafone's shares surged Tuesday following reports that Verizon and AT&T were working on a break-up bid for the British firm.

Vodafone's shares surged Tuesday following reports that Verizon and AT&T were working on a break-up bid for the British firm.

The two US telecoms groups are said to be considering a deal that would see them pay a 40% premium to Vodafone's share price at Monday's close, sources told FT Alphaville.

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It would put Vodafone's enterprise value at $245bn, making it the biggest merger and acquisition in history.

Shares rose 5.06% to 196.0p per share at 12:09, topping the risers on the FTSE 100.

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Vodafone has been in the midst of deal speculation in recent months, in relation to the sale of its ownership of a 45% stake in US mobile operator Verizon Wireless.

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