London/New York: Vodafone Group said that it was in talks with Verizon Communications to sell its prized stake in Verizon Wireless, the number one U.S. mobile carrier, in what would be the third-biggest deal of all time.

Verizon has made no secret of its desire to gain full ownership of a network that is growing at a rapid rate and generating billions of dollars in free cash flow, but the companies have tussled over how such a deal should be valued.

Vodafone's Chief Executive Vittorio Colao has bided his time, waiting for the optimal moment to sell the 45 percent stake in a deal that would leave the world's second largest mobile operator with assets in Europe and emerging markets such as India, Turkey and Africa.

Verizon and Vodafone were discussing a sale for around $130 billion in talks that had resumed a few weeks ago, according to a person familiar with the situation, who asked not to be named. The person said that an announcement could come as soon as the first week of September. A second source said the announcement could come on Sept. 2.

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