US carriers Verizon and AT&T may be working to acquire Vodafone, the world's second-largest mobile carrier, according to the Financial Times.
The deal would value Vodafone at $245 billion, putting it behind China Mobile which leads with 439 million subscribers.
Verizon, the largest US carrier, would acquire the 45 per cent stake Vodafone owns in its US operations, essentially freeing itself up. As for AT&T, it would pick-up Vodafone's operations outside of the US, as previously suggested.
Verizon and AT&T would be jointly pairing for the acquisition or merger in an effort to pass huge regulatory hurdles that would come their way. CNET theorises that together they would have a better chance getting through, rather than singly .
Vodafone saw $10 billion in net income during 2012. It operates in many European countries, along with India, Turkey, Egypt and many others. Its stock was up roughly 6 per cent on the London Stock Exchange when word of the acquisition hit the wire.
Update Verizon has told Bloomberg that it it does not "currently have any intention" to merge with or buy Vodafone, alone or with others. However, it did say it would still be a willing buyer of Vodafone's 45 per cent stake in the company. We've contacted AT&T to hear its side.