Vodafone in Verizon buy-back talks

Vodafone says it is in advanced talks to sell its 45% stake of Verizon Wireless back to the US mobile phone service provider for $130bn in cash and stock.

If it goes through, it would be the second-largest acquisition deal on record. If agreement is reached, Verizon would own its wireless business outright after buying the stake back from the British mobile phone company.