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

To: MrGreenJeans who wrote (2042)	11/1/1999 8:04:00 AM
From: MrGreenJeans	Read Replies (1) \| Respond to of 3175

BT keen to double stake in Airtel By Charles Pretzlik British Telecommunications and Vodafone AirTouch, the telecoms groups, are both keen to increase their holdings in Airtel, the second largest Spanish mobile telephone operator. BT would like to double its existing 17 per cent shareholding in a move which would cost almost œ2bn. Both BT and Vodafone are understood to have had discussions with Banco Santander Central Hispano, the Spanish banking group which owns just over 30 per cent of the shares in Airtel. Analysts said BT would like to increase its stake to just above 30 per cent and become the largest shareholder. It is known to be interested in buying all BSCH's shareholding but analysts expect that it would sell on about half those shares to other existing shareholders, including Vodafone, which holds 21.7 per cent. It is unclear how willing BSCH is to sell, although some other shareholders believe it may have to sell because of its holdings in other Spanish companies. BT said: "It is no secret that we would like to increase our presence in Europe." However, it declined to comment on Airtel specifically. BT has made investments worth more than œ3bn in continental Europe since 1997. It owns a 45 per cent stake in Viag Interkom, the German fixed-line telecoms group, and it is expected to increase this shareholding over the next few weeks. It also holds a 26 per cent stake in Cegetel, the French fixed and mobile telecoms group. Vodafone also declined to comment on the Airtel situation but said: "Vodafone has a strategy of increasing its existing holdings." Both Vodafone and BT have been suggested as possible bidders for Mannesmann, the German group which earlier this month made an agreed œ18bn bid for Orange, the mobile communications company.