Vodafone-Airtouch (NYSE: VOD) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Vodafone-Airtouch (NYSE: VOD)

VOD 14.17

+1.6%

Jan 23 9:30 AM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Ibexx who wrote (2196)	12/2/1999 7:01:00 PM
From: David Wiggins	Read Replies (1) of 3175

European officials slam Schroeder interventions By Clifford Coonan BERLIN, Dec 2 (Reuters) - Two European heavyweights took German Chancellor Gerhard Schroeder to task on Thursday for damaging Europe's image and undermining its single currency by meddling in high-profile corporate matters. Schroeder's vocal opposition to the hostile bid by Britain's Vodafone Airtouch (quote from Yahoo! UK & Ireland: VOD.L) for blue-chip Mannesmann and his injection last week of state credits to rescue crisis-hit builder Philip Holzmann have boosted his popularity at home. But EU Competition Commissioner Mario Monti and European Central Bank President Wim Duisenberg said separately that Schroeder's interventions had worried markets that Europe was returning to protectionist ways. Asked at a news conference in Berlin after meeting German Finance Minister Hans Eichel if Schroeder's opposition to the Vodafone bid was viewed as protectionist, Monti said: ``Those remarks may have been perceived as such by the markets.' He added that so great was the attention on the European economy by financial markets that interpretations of remarks by politicians were becoming as important as actual events. Monti earlier told Italian daily Corriere della Sera in an interview he had been ``struck by the coincidence' of Schroeder's remarks and the recent decline of the euro. Speaking at a news briefing after an ECB council meeting, Duisenberg rounded on Schroeder's intervention to rescue Holzmann as also damaging Europe's image as being committed to market-driven economics. ``All I want to say about the recent intervention in Germany in the company market is that it does not enhance the image that we want to have of being an increasingly market-driven economy across the euro area,' Duisenberg told a news conference. The euro hovered above a fresh lifetime low against the dollar on Thursday, dropping close to the psychologically important one-for-one rate. By 1650 GMT it stood at around $1.003. SCHROEDER WINS POINTS AT HOME The centrist Schroeder has taken a noticeably more leftwing route of late as he tries to consolidate his leadership of the Social Democratic Party, which has been knocked by a string of state election defeats and his uncertain first year in power. The swing to the left has led to a cooling of relations with his former ``Third Way' ally British Prime Minister Tony Blair, who has described Schroeder's concerns over the Vodafone bid exaggerated. Schroeder got his own back on Blair earlier this week, accusing him of ``protectionism' for blocking a proposed Europe-wide tax that Britain fears could cost jobs in the City. Commissioner Monti insisted that the EU would not be swayed by politics in assessing to what extent state involvement in the private sector was permissible. ``It is the role of the Commission to make sure rules governing mergers are not infringed and that rules on state aid are not infringed,' he said. He added the EU would closely scrutinise the package, which German government officials have said they are confident will not face any objections from the EU. ------------------------------------------- Ibexx, Great to see you back! You are one of my strongest leading indicators. Regards, Dave

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next