Mobile giant Vodafone faces fresh speculation over the future of its US interests, as it emerged its bankers had presented the company with plans to acquire Verison Communications for $160 billion.

Vodafone insists that it has no plans to make an offer for Verizon, nevertheless the Financial Times’ reports that such a deal had support has fuelled speculation over Vodafone’s US interests.

Vodafone already owns 45% of the fast-growing Verizon Wireless division of Verizon. The FT’s Alphaville blog had cited sources close to the plans suggesting that Vodafone should acquire the remaining 55%.

Pressure has been mounting on Vodafone to clarify its US strategy as it emerged that activist shareholders, Efficient Capital Structures, will seek a shareholder vote on their proposals that Vodafone sell off its stake in Verizon Wireless.

And while Vodafone has stated that plans to buy Verizon Communications were “not taken seriously”, it’s executives face pressure to present a compelling US strategy.

Vodafone sees itself as international mobile operator – therefore some presence in the US market makes sense. But recently it has preferred to target growth in developing markets such as India. It also knows that a significant proportion of its shareholders are reluctant to see it make large acquisitions.

Further reading:

Vodaone & Hutchison Essar