Vodafone will not pay tax on £84bn sale to Verizon
2 September 2013 Last updated at 09:29 BST
Vodafone says talks about the sale of its 45% stake in Verizon Wireless of the US are "advanced" and it has put a value on the deal of $130bn (£84bn).
Vodafone and Verizon are expected to announce they have agreed on the finer detail.
But as BBC's business editor Robert Peston reports, no UK tax would be paid on the enormous transaction.