LONDON (Reuters) - Vodafone (VOD.L) stock hit a 12-year high on Thursday after the UK-listed telecom confirmed it was in talks to sell its 45 percent stake in a U.S. joint venture to partner Verizon Communications (VZ.N).
At 0711 GMT (2:11 EDT), Vodafone's stock was up 8.3 percent at 205.01 pence, off a high of 207 pence, leading risers on the pan-European FTSEurofirst 300 index .FTEU3, which was up 0.5 percent.
Demand to trade the stock was strong after a delayed open, with volume at nearly half its 90-day daily average after less than 15 minutes trade. That compared with an average traded volume across the FTSEurofirst 300 of less than 8 percent.
Reporting By Francesco Canepa; editing by Simon Jessop