(Sharecast News) - Vodafone denied that it was in the process of talks to sell its operations in Spain to its smaller rival MasMovil.
According to website El Confidencial, over the past summer, Vodafone rejected a non-binding €6.0bn offer from MasMovil arguing that it undervalued the assets and asked instead for €8.0bn.
In remarks to Reuters, a spokesman for Vodafone said there was "no truth whatsoever" to the report that talks were talking place or that the company had asked for any specific figure.
As of 1456 BST, shares of Vodafone were adding 1.35% to 162.18p while those of MasMovil were off by 0.89% to 22.22.