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Vodafone Keeps Mannesmann Bid Unchanged
Posted: 23-Dec-1999 [Source: Reuters]

["Vodafone Airtouch on Wednesday published its takeover document for Germany's Mannesmann, keeping unchanged its cashless offer of 53.7 of its own shares for every Mannesmann share." ]

Frankfurt, Germany -- "In an advertisement appearing in the Thursday edition of the newspaper Frankfurter Allgemeine Zeitung, Vodafone kept to last month's record hostile bid, which would give Mannesmann shareholders about 47 percent of the combined group.

"Vodafone said in the advertisement, which contained an abbreviated version of the takeover document, that it wants to keep Mannesmann's fixed line telephone businesses, even though it plans to float minority stakes in them if its takeover bid succeeds.

"The German telecom and engineering group is strongly resisting Vodafone's takeover bid, currently valued at some 131 billion euros ($132 billion).

"Chris Gent, CEO of the British mobile phone operator, is due to discuss the takeover offer at a news conference in Duesseldorf, Germany, on Thursday.

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