Verizon and Vodafone both distanced themselves on Tuesday from speculation that they were preparing a bid for Sprint, the third-largest US mobile operator.

Sprint is expected to announce plans for a $35bn merger with Nextel, the fifth largest US mobile carrier, as soon as on Wednesday. The combined company would have almost 40m subscribers, behind Cingular, the market leader, and Verizon Wireless, a joint venture between Verizon and Vodafone.