Vodafone Board May Approve $138B Mannesmann Bid


Reporter: David Speakman
Date: 11-18-1999

Company/Ticker/URLVodafone AirTouch
Company #2Mannesmann AG
Company #3Orange PLC
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File path:vodafone_1

Headline: Vodafone Board May Approve $138B Mannesmann Bid

The board of Vodafone AirTouch was expected to meet in London Thursday to approve a sweetened 138 billion dollar hostile takeover bid for German industrial conglomerate Mannesmann AG.

Vodafone the largest wireless operator in the world is recovering after Mannesmann rejected a friendly 116 billion dollar offer over the weekend.

Mannesmann AG the third largest industrial equipment maker in the world owns the largest cell phone company in Germany.

Mannesmann said it plans an international advertising campaign to convince stockholders to reject a Vodafone offer.

AT 9 AM eastern in European trading, Vodafone AirTouch was up 11 points or about 4% while Mannesmann was up more than 5% to 207.7 euros.