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Technology Stocks : Vodafone-Airtouch (NYSE: VOD)

VOD 14.65

-0.4%

Jan 30 9:30 AM EST

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To: MrGreenJeans who wrote (2127)	11/21/1999 10:21:00 AM
From: MrGreenJeans	Read Replies (2) of 3175

Vodafone plans share issue, 30 bln stg credit-paper FRANKFURT, Nov 21 (Reuters) - Vodafone AirTouch Plc (quote from Yahoo! UK & Ireland: VOD.L) Chief Executive Chris Gent said in a weekend newspaper interview that his group would fund a takeover of Mannesmann AG partly by issuing new shares and partly by taking out a 30 billion pound credit. ``On the one hand we will issue new shares and we will also take a credit of about 30 billion pounds to buy back (some of) our own shares,' Gent told Germany's Welt am Sonntag. Vodafone launched the world's largest hostile takeover bid on Friday with a fresh 124 billion euro ($127.7 billion) all-paper offer for the German telecoms and engineering group. The group said the revised bid, which came after Mannesmann last Sunday rejected an inital 103 billion euro offer, was its final offer. Gent told Welt am Sonntag Vodafone could not include a cash element as it would destabilise the group's financing and credit. Gent added that if the deal did not go ahead ``we have a few other ideas, but I can't talk about them.'

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