Shares in telecoms giant Vodafone soared in afternoon trading as rumours swirled of a possible merger with Verizon, or the end of its joint venture with the US firm.
Last night newswires reported the UK blue chip might sell all or part of its 45% stake in Verizon, worth $115bn, ending the joint venture between the two firms. It could also be considering a merger, according to reports. Vodafone's current market cap is £86.4bn ($130.6bn). Such a move has been widely predicted but still sent Vodafone's shares up over 7% today. This afternoon they are trading at 180.48p, having hit a peak of 181.4p earlier in the day. The boost to the share price is welcome news to several high profile fund managers who hold the stock. Vodafone's position as the bi...
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