The telecoms giant said this morning it is in discussion with Verizon over a possible disposal of its 45% stake in Verizon Wireless, though it added there is “no certainty” an agreement will be reached.

The stake, long the subject of market speculation, is estimated to be worth around £65bn-80bn.

Verizon, which owns the remaining 55% of the business, has funnelled billions in dividend payments to Vodafone in recent years under the terms of the venture.

With a sale likely to result in a significant payout for Vodafone shareholders, the group’s shares were up 9% at 206p early this morning.

The move helped push the FTSE 100 up 0.7% to 6,473, reversing some of the losses sustained earlier this week on concerns over Syria.