Vodafone has reportedly explored a potential acquisition of rival Three UK and been in talks about a potential merger of its Italian business with Iliad.
According to the Mail on Sunday, Vodafone has approached the Hong Kong owners of Three UK about a merger amid rumours the London-listed telecoms group itself could be a takeover target for a predator.
Vodafone held talks late last year with Asian conglomerate CK Hutchison, the owner of Three UK, about buying its rival, The Mail said.
It also said that Vodafone has entered talks with rival Iliad to strike a deal to merge their businesses in Italy, which could make a €6n (£5bn) telecoms powerhouse.
News of the potential deals comes amid speculation that Vodafone itself could be vulnerable to a bid. The Mail noted that rumours have been circulating that a private equity firm or an American telecoms group is eyeing Vodafone.
At 0900 GMT, the shares were up 4.8% at 123.15p.
