A cast of advisory bankers could today see their reward for years of long-distance phone calls, weekend dial-ins and late-night number crunching, as Vodafone and Verizon Communications near an agreement on a $130 billion deal.

The proposed sale of Vodafone's 45% stake in its US joint venture Verizon Wireless to Verizon Communications could generate more than $240 million in investment banking fees, according to estimates from New York-based research group Freeman & Co.