Vodafone confirms BT talks

Vodafone has confirmed it is in talks with British Telecom over the acquisition of both its share in the Japanese market and its stake in Spanish mobile phone operator Airtel.

Vodafone said: ‘‘Vodafone Group and BT confirm that they are currently in discussions regarding the possible acquisition by Vodafone of BT’s interests in Japan Telecom and the J-Phone Group.

‘‘These discussions also include the possible acquisition of BT’s stake in Airtel in Spain.’’

If an agreement was reached Vodafone would see its stake in Japan Telecom increase from 25% to 45%, with its shares in J-Phone rising from 26% to 46%.

It already owns a 73.8% stake of Airtel, which would increase to 91.6% if it bought BT’s 17.8% share.