Both the Manchester United and Liverpool legend's are at the Etihad Stadium for Manchester City's second leg against Real Madrid in the Champions League semi-final.
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As a pundit for BT Sport, Ferdinand attends nearly every Champions League match while Carragher was also pitch-side carrying out his media duties for American company CBS Sports.
Ferdinand made his way over to greet Micah Richards and Thierry Henry while Carragher stood awkwardly between the two literally red-faced as Ferdinand strolled past him, ignoring him in the process.
Eventually, they did shake hands, putting to bed a mini-feud that emerged last week when the Liverpool icon branded the ex-defender a 'clown'.
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Tagging him in an Instagram post, Ferdinand wrote: "Why the red face?"
It comes after a war of words emerged between the two last Wednesday when Carragher took swipes at Ferdinand.
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The 44-year-old insisted that a penalty was the correct decision in the first leg of the AC Milan and Inter Milan Champions League tie, where Simon Kjaer collided with Lautaro Martinez, something that Carragher disagreed with.
Speaking on CBS Sports, he said: "Anyone out there who is watching the replay, and see what VAR do, and still believe it's a penalty they must be a clown.
"Rio Ferdinand. I'm happy to call him a clown."
On his FIVE YouTube show Ferdinand responded, claiming he was left baffled by Carragher's quotes.
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"Every time I see him it's all love man. I'm a loving guy, we hug and we shake hands and have a little laugh," Ferdinand said.
"I don't understand why he came in with hostility, it's a hostile energy and I don't understand it.
"He's been on our show, we see each other and it's all cool. He used to carry my boots when we were with England, he always showed me love.
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"The thing that might have been, it was Hall of Fame week, that's the only thing I can think of because me and him are cool.
"We chat, sometimes text, I just don't get it man. I've only got good energy for him."