VOD in Malaysia?

9:20 AM -- Vodafone Group plc (NYSE: VOD) has emerged as the main contender to shell out $3 billion on a 25 percent stake in Telekom Malaysia Berhad 's mobile business unit, according to a report in Britain'sThe Sunday Times.

The state-controlled Telekom Malaysia is separating its mobile unit from its fixed-line business. The operator plans to sell a strategic stake in the mobile business, which has operations in nine Asian markets, including Indonesia, Cambodia, and Bangladesh.

Telekom Malaysia shares jumped 3 percent on the report that Vodafone could be its new strategic investor. — Michelle Donegan, European Editor, Unstrung