The Chamber of Commerce said it will lobby for permanent trade relations with China. But environmental, consumer and labor groups denounced the deal, saying it has no environmental or labor protections and gives international legitimacy to Chinese dictators. In Washington, I'm John Dimsdale for Marketplace. The London-based mobile phone company Vodaphone is poised to launch the most expensive takeover bid in history. But the target of its interest, the German group Mannesmann, rebuffed its offer over the weekend.
Analysts foresee a protracted and bitter fight.
From the European Desk, Stephen Beard reports. Mannesman of Germany made the first move. The company bought the UK mobile phone operator Orange. But that unnerved Vodaphone, which felt that its position as Europe's number-one mobile phone operator was under attack. At first, the British company tried friendly persuasion.