Vodafone 'mulls $202b bid'

Vodafone has been considering a US$160 billion ($202 billion) takeover bid for Verizon Communications, the Financial Times reported yesterday on its website.

The report triggered a 12.5 per cent jump in Verizon's share price in pre-market trade.

Vodafone and Verizon have joint ownership of Verizon Wireless, the second-largest mobile service provider in the United States, based on subscriber base.

Verizon has said it is interested in taking full ownership of the profitable asset.

Verizon Wireless competes against AT&T, which took full ownership of its wireless division, formerly known as Cingular, after buying partner BellSouth late last year.

- Agencies