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 Qataris pledge to expand Canary Wharf
- 2 #JeSuisEd: People share photos of themselves eating awkwardly in solidarity with Labour leader
- 3 Women think Irish men are the sexiest, survey finds
- 4 Florida couple forced to register as sex offenders for having sex on public beach
- 5 Watch eerie drone footage of destroyed building in Stalingrad
#JeSuisEd: People share photos of themselves eating awkwardly in solidarity with Labour leader
Florida couple forced to register as sex offenders for having sex on public beach
UK election candidates: 'Nasty party' Ukip faces fresh questions on eve of vote
Who should I vote for in the general election? Take The Independent's interactive quiz to find out which party's the right choice for you
Ohio 'Shawshank Redemption' fugitive Frank Freshwater arrested after 56 years on the run
In defence of liberal democracy
General Election 2015: Post-election 'shambles' looms as 70 per cent of voters say SNP 'should not be able to veto UK government policies'
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
General election live: SNP suspends two members for disrupting Labour rally
General Election 2015: Sturgeon claims Scots 'appalled' by Ed Miliband's refusal to work with SNP
iJobs Money & Business
£60000 - £70000 per annum + benefits : Ashdown Group: A highly successful, glo...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
£27 - 35k + Bonus + Benefits: Guru Careers: A Management Accountant is needed ...
£40-50k + Benefits.: Guru Careers: A Project Manager / Business Analyst is nee...