Liberty Global shares rose nearly 4% ($3 each) in early trading Thursday, after Macquarie Equities media analyst Amy Yong speculated the international cable giant could be a target of global phone power Vodafone.

Liberty shares were up as much as 3.9% ($3 per share) Thursday to $79.14 each, before closing at $78.59, up 3.2% or $2.45 per share.

In a research note Thursday, Yong speculated that Vodafone, which is in talks to sell its 45% stake in Verizon Wireless back to Verizon Communications for as much as $130 billion,  could use some of that cash in a deal for Liberty Global.

This isn’t the first time the two international communications giants’ paths have crossed – in June Vodafone outbid Liberty Global for German cable power Kabel Deutschland, offering about $10 billion for the largest MSO in that country.  According to Yong, Vodafone’s thirst for cable assets could lead it to the negotiating table with Liberty Global.

For the full story visit Multichannel.com