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Technology Stocks : Vodafone-Airtouch (NYSE: VOD)

VOD 14.64

-0.5%

Jan 30 3:59 PM EST

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To: hl who wrote (2123)	11/19/1999 5:59:00 PM
From: David Wiggins	Read Replies (1) of 3175

Mannesmann Executive Board Recommends Rejection Of Vodafone Airtouch Offer to Shareholders DUESSELDORF, Germany, Nov. 19 /PRNewswire/ -- Vodafone AirTouch has today announced a hostile but increased proposal to acquire Mannesmann. This proposal envisages an exchange of 53.7 Vodafone AirTouch shares for each Mannesmann share and is subject to a number of complicating conditions. The Executive Board recommends to shareholders to reject this offer. Today's offer does not reflect the potential offered to Mannesmann shareholders. In the course of the coming weeks Mannesmann will present to its shareholders the future value potential of an independent corporate strategy. Klaus Esser, Chairman of the Executive Board, said: ``Any offer for Mannesmann will be measured against the value potential for Mannesmann shareholders. Today's offer does not match this value potential.'

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