Vodafone may sell assets outside its "big six" markets as Europe consolidates, Swiss broker UBS said on Monday.UBS said it believed the mobile phone operator would consider divesting "a handful of smaller assets" outside markets where it can be a clear market leader or number two, where it can offer unified services and where the market structure is attractive.The broker, which based its note on a meeting with Vodafone's Chief Executive Vittorio Colao, said: "Vodafone believes there could be significant change over the coming years with Europe consolidating down to a handful of larger players with converged quad-play offerings."UBS said the group was considering different fixed-line options in the UK depending on the success of British rival BT in mobile and also believed its German mobile network quality was now back on a par with Deutsche Telekom.It added: "Vodafone expects German mobile consolidation will go ahead, but is wary of generous terms being awarded to mobile virtual network operators that could disrupt the market and lead to a lack of incentives to invest in infrastructure."UBS has an unchanged 'buy' rating and a 255p price target on Vodafone.At 11:15 in London, Vodafone was trading up 0.25p at 209.75p.PW