Vodafone on Sunday confirmed that it was in discussions with Verizon Communications over the sale of its 45% stake in Verizon Wireless for $130 billion in a mix of cash and shares.

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“Vodafone confirms that it is in advanced discussions with Verizon Communications Inc. regarding the disposal of Vodafone's US group whose principal asset is its 45% interest in Verizon Wireless for US$130 billion”, it said in a statement.

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It said that the consideration would substantially comprise a mixture of Verizon common stock and cash and that there is no certainty that an agreement will be reached. A further announcement will be made as soon as practicable.

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According to a Reuters’ report the deal is expected to take place on Monday giving  give the US telecom giant complete control of Verizon Wireless.

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