Vodafone shares soar on sale of wireless stake

Shares of Vodafone were the best performing in the British large-cap stock market index following the latest speculation over the possible sale of its Verizon Wireless holding to Verizon Communications, a Dow Jones report said.

The report quoted a British newspaper as saying that Verizon Communications might buy the stake in its wireless joint-venture from Vodafone for about $48 billion, a price tag close to what market observers believed the stake to be worth.

The report from the Observer reported that Verizon was "poised" to buy Vodafone's stake in the wireless service that bore its name, Dow Jones said.

Citing unnamed shareholders of Vodafone, the paper reported that a price tag "north of $45 billion" should be accepted by Arun Sarin, Vodafone's CEO.