Vodafone shares up 2.4% in early trading

Vodafone shares rose 2.4% in early trading. John Malone’s Liberty Global said after the close of trading on Monday that it had acquired a 5% stake in the British telecommunications operator.

Liberty Global, which owns half of Virgin Media O2, has ruled out a takeover bid. Virgin Media O2 is a major competitor to Vodafone in the UK.