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Technology Stocks : Vodafone-Airtouch (NYSE: VOD)
VOD 11.58+2.1%Nov 7 9:30 AM EST
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To: MrGreenJeans who wrote (2513)2/9/2000 2:38:00 PM
From: MrGreenJeans  Read Replies (1) of 3175
 
Vodafone to Gain Mannesmann Control This Week, People Say
By Christine Harper and Benjamin Wootliff
Vodafone to Gain Mannesmann Control This Week, People Say

London, Feb. 9 (Bloomberg) -- Vodafone AirTouch Plc will
announce by the end of the week that it has secured more than half
of Mannesmann AG after the German company agreed Feb. 4 to back
Vodafone's $189 billion stock and assumed-debt takeover offer,
according to people familiar with the situation.

Gaining more than 50 percent of the shares will give the
world's biggest wireless-phone service company control of
Mannesmann, Germany's biggest mobile-phone company. Vodafone
declined to comment.

Dusseldorf-based Mannesmann's supervisory board ended three
months of resistance after wringing a higher bid, five board seats
at the combined company and a pledge to retain Mannesmann's
traditional phone businesses in Germany and Italy. To win
approval, Vodafone raised its offer by 9.8 percent, to 58.96 of
its shares for each Mannesmann share.

Also Feb. 4, Vodafone extended its revised offer until
midnight Feb. 17 and applied its new terms to people who already
tendered their shares. Chief Executive Chris Gent said at the time
that he hoped to gain control of the company this week and that he
expects to get European Union approval in time to seal the
transaction by the end of March.

Goldman Sachs Group Inc. and Warburg Dillon Read are advising
Vodafone. Morgan Stanley Dean Witter & Co., Merrill Lynch & Co.,
J.P. Morgan & Co. and Deutsche Bank AG are advising Mannesmann
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