Following the Financial Times reports that Vodafone was considering a $160 billion buy-out of Verizon Communications plc, Vodafone has issued an official denial.

The statement, entitled "Re: Press Speculation" says:

"Vodafone notes press speculation that it is considering a possible offer for Verizon Communications."

"Vodafone wishes to make it clear that it has no plans to make such an offer."

Vodafone owns 55% of Verizon Wireless, an arm of the business and partners with the company in the States.

The rumour has seen Verizon shares rise 8% while Vodafone's dropped 1.4%.