Vodafone, the UK telecoms group, is closing in on a near-$130bn deal to offload its lucrative US wireless stake to joint venture partner Verizon, underlining the shift of power in the industry from Europe to the Americas.

A sale of Vodafone’s 45 per cent share in Verizon Wireless would resolve one of the longest-running stand-offs in recent dealmaking and mark the third-largest merger and acquisitions deal ever. It was described by people close to the transaction as providing “a massive quantitative easing injection” for the UK economy.

The two companies were aiming to finalise terms by early next week for the buyout of Vodafone’s stake, which would lead to a payout of billions of dollars to pension funds and other shareholders, people close to the talks said.