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Technology Stocks : Vodafone-Airtouch (NYSE: VOD)
VOD 15.06+3.0%2:26 PM EST
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To: David Wiggins who wrote (2071)11/14/1999 9:14:00 PM
From: David Wiggins  Read Replies (3) of 3175
 
Deutsche Telekom Could Be Target
HAMBURG, Germany (AP) -- With telecommunications takeovers the latest rage in international business, Germany's Deutsche Telekom could be a target if the government decides to sell off its shares next year, a magazine reported.

Der Spiegel magazine reported in its Monday editions that the government's holdings in Telekom are worth about $31.6 billion at its latest listing and that Finance Minister Hans Eichel could decide to sell as early as May.

For the time being, Telekom chief Ron Sommer can feel secure -- knowing the government is restricted from selling its 22 percent of shares before May. But that could radically change if a foreign investor decided to launch a takeover, the report said.

The report coincides with a statement Sunday by Mannesmann AG, the German telecommunications giant, that it had rejected an unsolicited takeover bid from Vodafone AirTouch PLC as ``wholly inadequate.'

Mannesman's announcement followed a meeting between its chief executive, Klaus Esser, and Vodafone's chief, Chris Gent.

There was no immediate comment from Vodafone, which now has the option of pursuing a hostile takeover attempt that could be the largest in corporate history.
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