Discussions with Liberty Global have been terminated
Liberty Global, which has operations in 12 European countries including Britain, Germany and the Netherlands, has a market capitalisation of $46 billion, while Vodafone's is 66 billion pounds ($102 billion).
Vodafone did not say which businesses were being discussed.
"There is no certainty that any transaction will be agreed, nor is there certainty with respect to which assets will ultimately be involved," the company said in its statement.
Liberty, which owns Unitymedia, Germany's second-biggest cable operator, has long coveted its bigger rival Kabel Deutschland, which Vodafone bought in 2013 for $10 billion. ■