What The Papers Say: Press is battlefield for Vodafone’s bidding war

Rumours of Vodafone Airtouch’s hostile bid for Mannesmann began on Monday 8 November, sparking a bitter battle. ’Germany ought to welcome takeovers as being the stimulus its presently moribund economy needs,’ said James Hanson in Sunday Business (28/11/99).

Rumours of Vodafone Airtouch’s hostile bid for Mannesmann began on

Monday 8 November, sparking a bitter battle. ’Germany ought to welcome

takeovers as being the stimulus its presently moribund economy needs,’

said James Hanson in Sunday Business (28/11/99).



It was widely reported that Mannesmann’s High Court attempt to block

Goldman Sachs from advising Vodafone was thrown out. The German

engineering company went silent for an entire week while Vodaphone CEO

Chris Gent began his charm offensive with Mannesmann’s shareholders.



But then Canning Fok, MD of Hutchinson, which still holds a stake in

Orange after selling it to Mannesmann, said: ’Mannesmann and Orange will

be better positioned than Vodaphone in the telecom business,’ (Daily

Telegraph, 24/11/99).



Mannesmann boss Klaus Esser bounced back by announcing the demerger of

his engineering business and appealing to shareholders to decide. The

ball was back with Mannesmann.



Analysis and commentary by Echo Research. Cuttings supplied by the

Broadcast Monitoring Company. More information can be found at

www.echoResearch.com.



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