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

To: MrGreenJeans who wrote (2531)	2/16/2000 1:35:00 PM
From: MrGreenJeans	Read Replies (1) \| Respond to of 3175

Mannesmann 1999 Profit Seen Falling 32% to EU430 Mln: Outlook By Sonja Heizmann Dusseldorf, Germany, Feb. 16 (Bloomberg) -- The following is a summary of earnings expectations for Mannesmann AG, Germany's biggest mobile phone company being bought by Vodafone AirTouch Plc: Expected Earnings Full-year profit fell 32 percent to 430 million euros ($423 million) from 630 million euros a year earlier, according to the median forecast of five analysts surveyed by Bloomberg News. Forecasts ranged from 417 million euros to 620 million euros. Net income after minorities amounted to 102 million euros, the analysts predict. They expect earnings from ordinary activities was little changed at 1.42 billion euros. Time Mannesmann releases earnings tomorrow morning before the start of trading. The company will also provide earnings by division. Behind the numbers Mannesmann repeatedly said full-year net income would be lower than 1998 on higher taxes and goodwill charges for acquisitions including U.K. mobile phone company Orange Plc. The company said in January that earnings before interest, taxes, depreciation and amortization rose 37 percent to 4.3 billion euros, fueled by mobile growth and lower start-up costs at its Arcor traditional phone business. Full-year sales rose 22 percent to 23.2 billion euros. At the beginning of this month, the German company accepted Vodafone's $179 billion stock and assumed-debt takeover offer. The combined company will be Europe's biggest phone business and, with about 10 percent of the world's mobile phone customers, will also dominate mobile Internet services. The world' biggest wireless service company has said buying Mannesmann would require spinning off its U.K. rival Orange to appease regulators. What the Experts Say ``Telecommunications is the company's growth motor, its pearls being D2 and Omnitel,' said Frank Wellendorf, an analyst at WestLB Panmure in Dusseldorf, which rates Mannesmann ``underperform' and Vodafone ``buy.' Previous Market Reaction The company's shares rose 21 percent in the three days before it accepted Vodafone's offer on Feb. 3. The takeover is the biggest ever.