Company Of The Week: Vodafone Group
Sunday 10 January 1999
In an industry that is expected to almost triple in size over the next three years, analysts say it is a tough combination to beat. "In terms of long-term strategy it would be a great deal for them to do, and I think the market would be very supportive of it," said Tressan MacCarthy, an analyst at Credit Lyonnais Securities.
AirTouch would almost double the size of the UK company and create the world's biggest mobile phone company with 25 million customers. The two have been in merger talks before, but Vodafone's interest took on a new urgency after Bell Atlantic made a bid, estimated at $43bn (pounds 26bn), for AirTouch last week. The move prompted Vodafone to offer a bid of about $54bn for AirTouch.
Key to the purchase, say analysts, is AirTouch's business in Europe, where mobile phone use is among the world's highest and services operate on a single digital technology. AirTouch's assets would enable Vodafone to forge a pan-European network from Sweden to Greece with little overlap.
Vodafone's triumph isn't guaranteed. On Thursday, MCI Communications was said to be considering entering the bidding. This would be an about- face for MCI which has focused on telephone services for business, which don't usually include wireless. And it would cut into earnings. Vodafone declined to say whether it would raise its bid if another company made a higher one. Copyright: IOS & Bloomberg
- 1 Sabina Altynbekova, the girl branded 'too good looking' for volleyball, says social media obsession with her is a 'bit much'
- 2 Disney heiress Abigail disowns her share of family profits in West Bank company
- 3 The secret report that helps Israel hide facts
- 4 'Women should not laugh in public,' says Turkey's Deputy Prime Minister in morality speech
- 5 Israel's propaganda machine is finally starting to misfire
A former custard factory, a Midlands bog and a Leeds cemetery all included in top 50 hidden spots in the UK
Sabina Altynbekova, the girl branded 'too good looking' for volleyball, says social media obsession with her is a 'bit much'
Disney heiress Abigail disowns her share of family profits in West Bank company
'Women should not laugh in public,' says Turkey's Deputy Prime Minister in morality speech
Drew Barrymore’s sister Jessica found dead in her car surrounded by 'dozens of white pills'
The secret report that helps Israel hide facts
Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
A day in the life of Vladimir Putin: The dictator in his labyrinth
Putin is 'thuggish, dishonest and reckless', says British ambassador to US
Richard Dawkins tweets: 'Date rape is bad, stranger rape is worse'
Boozy, ignorant, intolerant, but very polite – Britain as others see us
- < Previous
- Next >
iJobs Money & Business
£600 - £700 per day + competitive: Orgtel: Senior Investment Accounting Change...
£450 - £650 per day + competitive: Orgtel: My client, a leading bank, is curre...
£350 - £400 per day + competitive: Orgtel: Senior Analyst, ALM Data, Halifax, ...
£500 - £600 per day: Orgtel: Java developer - Banking - London - Up to £600/d...