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Technology Stocks : Vodafone-Airtouch (NYSE: VOD)

VOD 14.17

+1.6%

Jan 23 9:30 AM EST

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To: MrGreenJeans who wrote (1924)	9/13/1999 7:44:00 AM
From: MrGreenJeans	Read Replies (1) of 3175

Vodafone says Bell talks may herald U.S IPO LONDON, Sept 13 (Reuters) - Vodafone AirTouch Plc, the world's biggest mobile telephone company, said on Monday that talks with U.S. east coast carrier Bell Atlantic (NYSE:BEL - news) could lead to a new U.S. cellphone giant which might be demerged. Vodafone, which confirmed last week it was in talks with Bell Atlantic just two months after completing an ambitious $62 billion takeover of west coast carrier AirTouch, said a separate listing for any new U.S. entity was one of a string of options. ``There are a number of different options and I don't think either side would like to comment on what those options would be,' a spokesman said. ``Clearly that (a separate listing) is one that we wouldn't rule out -- but equally there are others.' Vodafone said it had set no deadline for a deal after giving current negotiations with Bell Altantic a 20 to 30 percent chance of success. Bell Atlantic also confirmed on Sunday the two were negotiating a possible ``a U.S. business relationship.' ``Doing something in the States is a clear option and it is something we want to do. But it is not a 'drop dead we have to do it now' scenario,' the Vodafone spokesman said. Vodafone -- which outbid Bell Atlantic for AirTouch in January -- noted the synergies that Bell and AirTouch had sought to achieve with a merger before the British-based group muscled into negotiations and said this made Bell Atlantic a ``good choice' for its U.S. aspirations. A deal with Bell Atlantic would give Vodafone immediate national coverage of the world's biggest cellphone market, access to a total of over 20 million U.S. customers and enough market clout to battle heavyweight rivals Sprint Corp (NYSE:FON - news) and AT&T Corp (NYSE:T - news). Taking any new joint venture public would provide the only large, mobile phone company for U.S. investors to invest in. The cellular industry has become one of the world's fastest growth markets and analysts believe investors would show keen demand.

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