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Technology Stocks : Vodafone-Airtouch (NYSE: VOD) -- Ignore unavailable to you. Want to Upgrade?

To: MrGreenJeans who wrote (2014)	10/20/1999 8:41:00 AM
From: David Wiggins	Read Replies (3) \| Respond to of 3175

Mannesmann offers 14 pounds per Orange share-paper LONDON, Oct 20 - German telecommunications group Mannesman has offered 14 pounds ($23.39) a share for Britain's third biggest mobile telephone company Orange Plc (LSE: ORA.L - news) , the Independent newspaper reported on Wednesday. A spokesman from Orange declined to confirm the report, which did not name a source. "We have received an approach which may or may not result in an offer being made," he told Reuters. Mannesmann said on Tuesday it was in talks to buy Orange, casting doubt on a relationship with key European ally Vodafone AirTouch Plc (LSE: VOD.L - news) . Vodafone and Mannesmann are partners in Germany, Italy and France and analysts had expected the UK company to move closer to its German partner after securing nationwide U.S. coverage and increasing its stake in nine regional mobile phone companies in Japan earlier this month. The Independent said the Mannesmann offer for Orange was specifically for the 44.8 percent stake owned by Hong Kong conglomerate Hutchison Whampoa . Hutchison has said it wants to use the British company as its expansion vehicle in Europe. Mannesmann's move, which highlights a global consolidation game that has already seen compatriot Deutsche Telekom snap up Orange's UK rival One2One, sent Orange's stock leaping by around 10 percent to value it at over 17.5 billion pounds ($29.25 billion). Orange shares ended 49p higher on Tuesday at 13.88 pounds. But Vodafone's stock slumped to close 10.5p lower at 273.5p amid concern that its partnerships with Mannesmann might unravel. Mannemann's shares ended 0.15 Euros lower at 154.60.