Vodafone lost an early lead to be down 1p at 162.2p amid speculation the mobile phones giant is pondering a $160bn (£80bn) bid for joint-venture partner Verizon Communications. Vodafone would like to get its hands on Verizon Wireless in the US. Verizon Communications has always insisted its stake is not for sale, so a bid by Vodafone for the parent company might be the only way around the impasse.