Sources told the Financial Times that U.S. wireless providers Verizon (NYSE:VZ) and AT&T (NYSE:T) were preparing to partner on a complex bid for the British telecommunications company. Under terms of the deal under discussion, Verizon would acquire Vodafone’s minority share in Verizon Wireless, while AT&T would buy Vodafone’s non-U.S. operations, Bloomberg noted.
A bid would be priced at around $3.95 a share, valuing Vodafone at $245 billion. Barclays (NYSE:BCS) is reportedly working with the companies to develop the terms of the deal.
In January, Vodafone shares jumped on rumors that Verizon was looking to buy its stake in Verizon Wireless in a deal potentially worth $115 billion.
Shares of AT&T and Verizon rose fractionally in early trading on Tuesday.