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Technology Stocks : Vodafone Airtouch PLC

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To: MrGreenJeans who wrote (1)	6/23/1999 7:51:00 AM
From: MrGreenJeans	Read Replies (1) of 5

Vodafone up as merger clears last hurdle LONDON, June 23 (Reuters) - Shares in British mobile phone company Vodafone Group Plc rose 1.3 percent in a weaker overall market on Wednesday after the Federal Communications Commission approved its $62 billion acquisition of U.S. carrier AirTouch Communications Inc (NYSE:ATI - news). Vodafone was 18 pence higher at 13.67 pounds on news that the deal had cleared its final hurdle, allowing the creation of an international wireless powerhouse with a sharply increased weighting in the FTSE 100 index. ''Vodafone's weighting in the index will increase dramatically and index tracking funds will have to buy stock, just as happened when BP completed its deal to buy Amoco at the end of December,'' said one equity strategist. The AirTouch-Vodafone deal was approved late last month by the European Union and shareholders of both companies

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