Vodafone doesn't note how a potential "transaction" would play out but it is keen to express that discussions will not focus on a merger. However, it's highly likely that the "assets" will include Virgin Media, which was only acquired by Liberty Global in February 2013. After all, BT, TalkTalk and Sky all have established TV and internet services and Vodafone does not. "There is no certainty that any transaction will be agreed," notes Vodafone in a press release. "Nor is there certainty with respect to which assets will ultimately be involved." Virgin Media would be a good fit for Vodafone, even if it's just making a return to broadband -- we'll just have to see how this plays out.