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Technology Stocks : Vodafone-Airtouch (NYSE: VOD)

VOD 13.49

+0.3%

2:40 PM EST

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To: MrGreenJeans who wrote (2950)	8/21/2000 8:11:09 AM
From: MrGreenJeans	Read Replies (1) of 3175

Vodafone plans no new bond to fund German UMTS licence DUESSELDORF, Germany, Aug 21 (Reuters) - Vodafone Group (quote from Yahoo! UK & Ireland: VOD.L) will not issue a new bond to pay for the German third generation mobile phone licence it acquired last week, the head of the group's German mobile phone unit Mannesmann Mobilfunk said on Monday. ``Vodafone will pay for the entire sum of around 16.6 billion (marks) for the three frequency blocks from its own resources,'' Juergen von Kuczkowski told a news conference. Mannesmann Mobilfunk last week secured two packets of paired frequency and a third packet of unpaired frequency for a total of 16.5948 billion marks ($7.70 billion). Credit rating agency Standard & Poor's last week said it was considering cutting the credit ratings of a number of European telecoms operators following the completion of the auction of Universal Mobile Telephone Service (UMTS) licences.

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