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Technology Stocks : Vodafone-Airtouch (NYSE: VOD)

VOD 15.72

+3.1%

Feb 4 3:59 PM EST

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To: David Wiggins who wrote (2094)	11/17/1999 7:48:00 AM
From: David Wiggins	Read Replies (1) of 3175

Bell Atlantic Will Not Bid for Mannesmann NEW YORK (Reuters) - Bell Atlantic Corp (NYSE:BEL - news). does not plan to bid for Germany's Mannesmann AG, which rebuffed a takeover offer from Vodafone AirTouch Plc (NYSE:VOD - news), because the price is too high, said Bell Atlantic Chairman and Chief Executive Ivan Seidenberg. Bell Atlantic, SBC Communications Inc (NYSE:SBC - news)., MCI WorldCom Inc (NasdaqNM:WCOM - news). and British Telecommunications Plc (NYSE:BTY - news) have been seen as potential 'white knight' suitors for Mannesmann, which Sunday rejected Vodafone's 103 billion euro ($106 billion) bid. Vodafone vowed on Tuesday to make a fresh bid for Mannesmann this week. ``I think Mannesmann and Vodafone belong together,' Seidenberg said following a presentation at the Warburg Dillon Read Global Telecom conference in New York. ``These valuations are so far out of what I would consider to be reasonable that that's not something that you would see us (considering),' Seidenberg said. Sources close to Bell Atlantic told Reuters on Monday the local telephone company was unlikely to enter a bid for Mannesmann. Bell Atlantic, which plans to forge a U.S. wireless telephone partnership with Vodafone, would be unlikely to compete against Vodafone for Mannesmann. If Bell Atlantic entered the fray at all, it would more likely be to help Vodafone sweeten its bid for Mannesmann, sources said.

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