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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: JMD who wrote (2832)	5/31/2000 10:17:00 AM
From: MrGreenJeans	Read Replies (1) of 3175

Vodafone makes bid for Lebanon licence-officials BEIRUT, 31 May (Reuters) - Vodafone Airtouch Plc (quote from Yahoo! UK & Ireland: VOD.L), the world's largest cellphone firm, has approached the Lebanese government to become the country's third mobile phone operator, financiers and officials said on Wednesday They said the British-based company made an offer to pay $1.35-1.5 billion to the government for a 20-year licence. Vodafone officials in London declined to comment but the company said upon unveiling its results on Tuesday that it was aiming to expand in the Middle East. Cellis and LibanCell, Lebanon's two existing cellphone firms, offered the state $1.35 billion each for 20-year licences to replace existing concessions that the government threatened to cancel. Financiers are urging the government to accept the three offers, which would put around $4 billion into state coffers to reduce the $21 billion national debt. The cabinet is scheduled to discuss the offers late on Wednesday but no decision is expected. The government broke off talks with Cellis and LibanCell on a new licensing agreement last month and demanded they pay $300 million each and share more revenue with the state or face cancellation of their concessions. The government has alleged violations of their contracts, which the companies deny. France Telecom owns 69 percent of Cellis and Finland's Sonera owns 11 percent of LibanCell.

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