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Technology Stocks : Vodafone-Airtouch (NYSE: VOD)

VOD 11.58

+2.1%

Nov 7 3:59 PM EST

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To: MrGreenJeans who wrote (2508)	2/7/2000 5:38:00 PM
From: David Wiggins	Read Replies (1) of 3175

VODAFONE AIRTOUCH SELLS 0.45% MANNESMANN STAKE TO ASSIST US TAX TREATMENT 2/7/00 3:16:29 PM LONDON, Feb 7, 2000 /PRNewswire via COMTEX/ -- Vodafone AirTouch Plc (NYSE: VOD; LSE) announces that it has sold its entire holding of 2,344, 324 Mannesmann Shares, representing approximately 0.45% of Mannesmann?s fully diluted share capital. The sale was made on 4 February 2000 in order to increase the probability that the exchange of Mannesmann Shares for new Vodafone AirTouch Shares pursuant to the Offer will be tax-free to US shareholders for US federal income tax purposes. Achieving this tax-free status is also subject to Vodafone AirTouch receiving acceptances of at least 80% of the outstanding Mannesmann Shares and the lapse or removal of the current 5% voting restriction in Mannesmann?s current articles of association. As part of the terms of the recommendation of Vodafone AirTouch?s Offer, Mannesmann has agreed to use its best efforts to convene an extraordinary general meeting to remove this voting restriction.

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