Vodafone in talks with Verizon over VZW stake - UPDATE

Telecoms giant Vodafone on Thursday confirmed it was in discussions with Verizon Communications about the possible disposal of its stake in their joint venture, Verizon Wireless (VZW).The news sent Vodafone's stock to 12-year highs today.It is speculated that Vodafone could receive as much as $130bn from the sale of the 45% interest through a mixture of cash and stock, making it the third-largest deal in history. Verizon has looked to buy-out Vodafone's share of the US phone carrier for many years but both parties have been unable to agree on a price. Verizon reportedly offered around $100bn earlier in the year but this was rebuffed. Market chatter suggests that a new deal could be completed within a week given that Verizon wants to urgently take advantage of current interest rates before they move even higher.Vodafone stressed there was "no certainty an agreement would be reached". NR