Mannesmann Tells Vodafone No Deal - Nov. 15, 1999

Reporter: David Speakman
Date: 11-15-1999

Company/Ticker/URLVodafone AirTouch
Company #2Mannesmann
Company #3Bell Atlantic
Company #4Deutsche Telekom
Company #5Orange Plc
Company #6
Company #7
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Headline: Mannesmann Tells Vodafone No Deal


Mannesmann AG - the largest wireless company in Germany turned down a 106.4 billion dollars all-stock buyout offer from Vodafone AirTouch Plc on Sunday.

In a statement faxed to reporters on Sunday, the German wireless said, QUOTE Mannesmann rejects this unsolicited proposal as wholly inadequate and not in the best interests of the company and its shareholders.

But Mannesmann did NOT say that the company was not for sale at any price leaving the door open for a potential bidding war for the company.

Mannesmann, which trades over the counter in the U-S was trading up more than 30% at the end of trading in Germany.

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