Vodafone-Airtouch (NYSE: VOD) Message Board

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Technology Stocks : Vodafone-Airtouch (NYSE: VOD)

VOD 14.62

-7.0%

3:59 PM EST

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To: yzfool who wrote (2090)	11/17/1999 4:27:00 AM
From: hl	Read Replies (1) of 3175

I agree with you: Shareholder value must be the only issue in this game. However, I'm living in Germany, I know the way the guys of the trade unions are thinking. Always remember: Mannesmann still has it's roots in the steel business, and a special law called "Montan Mitbestimmung" gives the trade unions half the seats in the supervisory board. And believe me, I've taken part in some meetings with members of trade unions and when I began talking about such things like "Return on Investment" or "Cash Flow Ratio" these guys looked at me like an alien from outer space. Keep in mind that this country is ruled by a socialist government with very close links to the trade unions. A telecom company needs good links to state regulators. I've strong doubts that this deal will go through. On the other hand I own a few Mannesmann shares and I'm waiting for an improved offer. Fact is that a major hostile deal never get through in Germany. I hate to say this, but there are other aspects beside shareholder value. Regards Kai

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