Vodafone shares have jumped to the top of the FTSE 100 leaderboard on talk that US peers Verizon and AT&T are working on a $245bn break-up bid for the firm.
The telecoms giant rose 6% to 197.7p in early trading after an FT Alphaville report said Verizon and AT&T are working on the "biggest M&A deal ever", pitched at a 40% premium to Vodafone's Friday closing price of 186.6p a share. Vodafone's jump helped push the FTSE 100 up 0.9% to 6,468 by mid-morning. The mooted deal, which would give Vodafone an enterprise value of roughly $245bn, would resolve growing speculation over the future of the company's joint venture with Verizon. Vodafone shares have now risen almost 27% this year as investors become convinced the Verizon issue is comin...
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