Vodafone CEO Nick Read

Sources say, things have been further complicated by news that Vodafone's CEO Nick Read will stand down at the end of the year.

On Monday, Telecom tycoon Xavier Niel said he was ready to advise the Vodafone board to sell off business and create a leaner operation. Vodafone and CK Hutchison confirmed they were in discussions about merging their UK businesses in October. Vodafone and CK Hutchison are keen to head off antitrust concerns that fewer network providers would mean less pressure to reduce prices, at a time when double-digit inflation is squeezing British consumers.