Vodafone shares have this morning jumped on confirmation that they’re in talks to sell their 45% stake in US operator Verizon.
Shares have posted a 12year high of 205.31 up 8% on the day
This has been a widely talked about deal for some time and has attracted the obvious connection of a demand for pounds if the deal goes through.
Final cash amount/impact still to be revealed but traders once again citing the potential demand as a reason for the perky pound this morning
Add: My wise and learned friend who heads a major London equities desks tells me the stake is worth c. USD 130 bln
GBPUSD holding onto 1.5500 still at the moment
EURGBP has taken out bids at 0.8550 to post 0.8546