Mobile phone giant Vodafone jumped in value on the London stock market today after it was linked to a possible bid from America's AT&T.
Shares rose by 2.5% after financial news wire Bloomberg reported that AT&T was laying the groundwork for a potential deal for Vodafone, which is in the process of selling its stake in US venture Verizon Wireless for £84 billion.
The report said there had not been any formal negotiations but that AT&T is intensifying work on which Vodafone assets it would retain following a deal.
The communication giant's chief executive Randall Stephenson is said to excited by the "huge opportunity" to invest in mobile broadband in Europe and is reportedly interested in Vodafone or British rival EE.
Vodafone is currently valued at more than £110 billion as it prepares to complete the third-largest corporate transaction in history, comprising a cash and shares deal with its joint venture partner in Verizon Wireless.
The bulk of the proceeds will go to Vodafone shareholders, while Berkshire -based Vodafone plans to plough £6 billion into organic investment, including in boosting its 4G, 3G, fibre and broadband services.