The putative network sharing deal between Vodafone UK and Telefonica-owned O2 UK could be expanded into other markets where the two mobile heavyweights are active, according to latest reports. Last week, the UK media reported that the two UK operators are looking to share mobile towers, network equipment such as base stations – and possibly even spectrum – as part of a strategy to make capital and operational savings. However, according to a Reuters report today, which cites Spanish newspaper Expansion, Vodafone and Telefonica are also looking at expanding the relationship to other markets in Europe. As well as the UK, the two operators are also both present in Spain, Germany, Ireland and the Czech Republic.

According to Reuters, Vodafone has declined to comment on the reports, whilst Guillermo Ansaldo, chairman of the Spanish division of Telefonica, said, “The last agreement to share networks with Vodafone is 2007, but there is nothing new to say.” Both operators’ share price rose slightly this morning, however, suggesting that a network sharing agreement would be well received by investors. “Any news that implies reducing costs and improving margins is well received by the market these days,” Banesto Bolsa analysts said in a note, but added it was too soon to determine the impact of an alliance on the operators’ bottom line.