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

To: Jeffrey D who wrote (2149)	11/22/1999 3:19:00 PM
From: Jeffrey D	Read Replies (2) \| Respond to of 3175

U.S. labor weighs in. Unbelievable. Jeff Statement by AFL-CIO President John J. Sweeney on Mannesmann Takeover BUSINESS WIRE - November 22, 1999 15:11 WASHINGTON, Nov 22, 1999 (BUSINESS WIRE) -- Today the AFL-CIO's Office of Investment has contacted investment managers for collectively-bargained benefit funds asking them to oppose Vodafone Airtouch Plc's hostile bid for Mannesmann. These managers of America's working families' retirement savings control 13% of Mannesmann AG's shares. The Office of Investment's analysis addresses the harmful strategic implications of Vodafone's bid for Mannesmann's telecommunications business and the threats the proposed transaction poses to the fundamental sources of value within Mannesmann. Vodafone's hostile bid for Mannesmann AG would be the largest corporate takeover ever. Though many in the United States have never heard of these European telecommunications giants, America's working families through their retirement funds are major investors in both companies. The managers of worker capital have a responsibility to invest those funds in the long-term interests of their beneficiaries. The AFL-CIO believes value is created over the long-term by partnerships among all a corporation's constituents -- workers, investors, customers, suppliers and communities. Mannesmann, and the European model of corporate governance under which it is structured, has allowed just those kinds of value creating partnerships to flourish. Worker capital, the savings of America's working families, should support value creating partnerships like those at Mannesmann. Only then will the global economy be able to deliver sustainable, equitable prosperity. Copyright (C) 1999 Business Wire. All rights reserved. Distributed via COMTEX. -0- CONTACT: AFL-CIO Bill Patterson, 202/637-5372 Lane Windham, 202/637-3962 WEB PAGE: businesswire.com GEOGRAPHY: DISTRICT OF COLUMBIA INDUSTRY CODE: GOVERNMENT