A deal could be announced in the coming weeks but there is no guarantee that the two companies will reach an agreement, according to Bloomberg sources.
If a deal is not finalised the operator could still decide to pursue a domestic flotation which would value the company at approximately $8.7 billion including debt, according to market watchers.
The acquisition would be part of the UK operator’s European expansion strategy.
Vodafone is due to complete the sale of its stake in Verizon Wireless next month.
