Vodafone breaks silence over bid intentions
Saturday 13 November 1999
Vodafone issued a statement saying no decisions had been taken about any specific options to participate in the consolidation of the global mobile phone industry.
"We continue to evaluation a broad range of opportunities including possible ways to develop Vodafone AirTouch's existing long-standing relationship with Mannesmann," the company said.
It is understood, however, that Vodafone is talking to Mannesmann shareholders and has made progress on a deal.
"It depends on what Mannesmann shareholders want to do. If we present them with a deal then they can say yes or no. Some must be unhappy about the price being paid for Orange was decided without asking them."
Vodafone's statement said its strategic priority was to develop D2, Omnitel Pronto Italia and SFR - the German, Italian and French mobile business in which it is in partnership with Mannesmann.
Mannesmann owns the German and Italian ventures and Vodafone has a minority stake. Both companies hold non-controlling stakes in SFR.
A spokeswoman for the company said the London Stock Exchange had not asked it to put out a statement to clarify its intentions. "It was just felt prudent to do so," she said.
Analysts said a tie-up now with Vodafone would insulate Mannesmann from a takeover later, after it breaks itself up into separate mobile phone and engineering units. US telecoms companies WorldCom and SBC Communications are considered strong candidates to bid for the company in 2000.
A deal would further enhance Vodafone's number one spot in a mobile market expected to be worth $102bn by 2003.
A bid for the group was unlikely to be made jointly with another company. "But we wouldn't rule out someone coming with us," said a source.
Vodafone is being advised by Goldman Sachs and SG Warburg.
- 1 Green village to be bulldozed and mined for lignite in Germany's quest for non-nuclear fuel
- 2 HeForShe campaign: Iceland to follow up Emma Watson speech with UN women's rights conference – for men only
- 3 Car tax disc changes: Two days to go - and they affect you much more than just not displaying a piece of paper
- 4 Teenagers irritable because early school hours mess with their biological clocks
- 5 Now we know whose fault it is if you end up being murdered in Thailand
Isis could become 'world’s first truly terrorist state' and bomb UK with nuclear and chemical weapons, Theresa May warns
Car tax disc changes: Five facts you never knew about your (almost obsolete) tax disc
Five-year-old Iris Grace is raising awareness of autism through her extraordinary paintings
Isis an hour away from Baghdad - with no sign of Iraq army being able to make a successful counter-attack
The Aral Sea: Nasa pictures show how what was once the fourth largest lake in the world has become almost completely dry
Isis, we are told, is a 'clear and dangerous threat to our way of life'. I’m sorry, but I just don’t buy it
Exclusive: 'Putin's Russia has been my biggest regret,' says Nato's outgoing Secretary General
The Osborne Ultimatum: Chancellor’s benefits freeze bombshell will affect ten million households
There’s no excuse for Dave Lee Travis’s behaviour, but we need to keep a sense of proportion
Should gay sex be illegal? 16% of Britons think so
Mark Reckless becomes second Tory MP to defect to Ukip in a month
- < Previous
- Next >
iJobs Money & Business
£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...
NEGOTIABLE: Austen Lloyd: TRUST ACCOUNTANT - KENTIf you are a Chartered Accou...
£18000 - £20000 per annum + OTE £30000: SThree: SThree are a global FTSE 250 b...
Highly Competitive Salary: Austen Lloyd: CITY - Law Costs Draftsperson - NICHE...