To: candide- who wrote (2194 ) 2/2/2000 3:01:00 PM From: JohnG Respond to of 35685
Look Here. VOD closing in on Mannisman (SP?. Recall that Q and VOD proved a CDMA air GSM land system the other day using modified CDMA phones having a SIM ( subscriber identity module) just like European GSM phones. Fortress Europe is teatering or is it titering. JohnG Wednesday, February 2, 2000 TELECOMS Mannesmann about to open doors to Vodafone NEWSBYTES In the face of a higher offer from Vodafone Airtouch, Mannesmann may save face and allow its telecommunications and industrial services operations to be taken over in the world's largest merger/acquisition, according to reports. Vodafone's offer, now worth around US$145 billion, may be raised to as much as $160 billion. Coupled with various sweeteners for Mannesmann shareholders, drawing on the cash expected to be raised by the sell-off of the Orange cellular group, Mannesmann is said to be close to agreeing to a deal. With five days to go before its offer expires, Vodafone has said the applications from Mannesmann shareholders willing to accept its bid may cause a logjam in its operations, causing it to miss the February 7 deadline. Mannesmann chief executive Klaus Esser previously had said he would reject an offer in which Mannesmann shareholders end up with less than 58.5 per cent of the shares in the merged company. Vodafone, meanwhile, offered to raise the share deal to 49 per cent, provided that Esser agreed to a friendly merger. The New York Times recently quoteed George Denoke, a spokesman for Mannesmann, as saying the firm was receptive to a higher offer but only if it was good for the company's shareholders. The indications are that the merger courtship dance between the two companies is now entering the end game, but yesterday's London Times newspaper reported that an administrative logjam could scupper the whole administrative process. The paper quoted sources as saying that Vodafone was taking up to four days to register the votes of Mannesmann shareholders, meaning that it could miss the February 7 deadline. If Mr Esser agrees to Vodafone's deal, however, then an extension to the shareholder voting would result, giving Vodafone the time it needs to keep the paper mountain under control. Mannesmann's Web site is at www.mannesmann.de. Vodafone's Web site is at www.vodafone.c