Vodafone is in talks on a possible sale of its stake in US joint-venture Verizon Wireless, which is said to be worth more than $US100 billion ($A112.49 billion).
While Vodafone stressed that any deal to sell its 45 per cent stake to US telecommunications group Verizon may well not be concluded, investors rushed to buy the company's shares.
A deal would help Vodafone, which is looking to bounce back from hefty losses, to pay down its debt, allow it to consider making further acquisitions and to return money to shareholders, analysts say.
"Vodafone notes the recent press speculation and confirms that it is in discussions with Verizon Communications Inc regarding the possible disposal of Vodafone's US group whose principal asset is its 45 per cent interest in Verizon Wireless," the company said in a statement.
"There is no certainty that an agreement will be reached," Vodafone added in a short release to the London Stock Exchange.
The Wall Street Journal, citing people familiar with the matter, reported on Wednesday that Verizon and Vodafone had resumed talks over a deal that could cost Verizon in excess of $US100 billion.
Verizon has been looking to pay about $us100 billion for the stake, while Vodafone is seeking around $US130 billion, the Journal added.
However, the two companies have yet to agree on an exact price.
Investors applauded Thursday's news, sending Vodafone's share price surging 8.27 per cent to close at 32.70 pence, topping London's FTSE 100 index of top blue-chip firms. The overall index finished 0.82 per cent higher at 6,483.05 points.
