Verizon Communications and AT&T are reportedly considering a possible bid for Vodafone. Verizon Wireless is currently a joint venture between Vodafone and Verizon Communications, although recent reports have suggested that Vodafone may want to sell its 45 percent stake in the U.S. wireless carrier. Another possible scenario is a massive communications company that combines both Verizon and Vodafone, although that seems less likely with today's news.

The Financial Times said AT&T and Verizon may offer as much as $245 billion to buy Vodafone outright. AT&T would run European operations, should the deal ever mature, and Verizon will take over the stake that Vodafone currently owns in Verizon Wireless.

The wireless industry is currently teeming with pending acquisitions. T-Mobile's merger with MetroPCS recently received approval from the FCC and the Department of Justice, while SoftBank is currently working to acquire a 70 percent stake in Sprint.