Acquisitions Boost Mannesmann Q3 Revenue - Nov. 11, 1999

Reporter: David Speakman
Date: 11-11-1999

Company/Ticker/URLMannesmann
Company #2Vodafone AirTouch


Headline: Acquisitions Boost Mannesmann Q3 Revenue


ON Thursday, Germanys largest wireless telecom, Mannesmann AG, reported third quarster sales of 6.7 billion dollars from 4.8 billion for the same quarter a year ago.

The quarterly dales include operations of Italian wirteless Omnitel, which Mannesmann bought in May for about 8 billion dollars.

In Germany, Mannesmanns cellular customer base grew from 6 million subscribers last year to 8 million this year a year-to-year growth rate of 34%.

In October Mannesmann bid for UK wireless Orange Plc in a deal worth between 32 and 36 billion dollars.

According to reports, Vodafone AirTouch, the largest wireless telecom in the world, may be preparing to launch a 100 billion dollar hostile bid for Mannesmann.

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News & Politics

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• ON24