Newsgroup: it.economia.borsa
Titolo: vodaphone CDA per scalata MANNESMANN ?

qualcuna sa come è andato a finire il cda Vodaphone e se hanno formalizzato
l'offerta?
Non era previsto per questa sera?
Saluti
Andrea

qualcuna sa come č andato a finire il cda Vodaphone e se hanno formalizzato
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240 euro    Sperem.
Sono curioso di vedere come si muoveranni i CW
Ciao
Vodafone gets key backing  
Reports say shareholders support $128B hostile bid of Mannesmann 
November 18, 1999: 3:49 p.m. ET 
 LONDON (CNNfn) - Vodafone AirTouch executives received a green light
from the company's biggest shareholders to launch a $128 billion
assault, the world's largest hostile takeover bid, on Germany's
Mannesmann, according to reports Thursday. 
     The board of Vodafone AirTouch (VOD), the U.K.-based leader in
mobile phone service, was meeting Thursday to clarify their stance
before Mannesmann holds a board meeting Friday. A Vodafone AirTouch
spokeswoman declined to comment about the meeting late Thursday in
London. 
     The Financial Times reported that shareholders gave "strong
backing" to a hostile assault on Mannesmann (FMMN). The newspaper said
Vodafone is now mulling an offer at up to 240 euros per share, valuing
Mannesmann at 124 billion euros ($128 billion). 
     Meanwhile, the High Court of Justice in London delivered a
victory to Vodafone by refusing the German mobile phone company's
effort to stop the bidder from receiving advice from investment bank
Goldman Sachs. 
     Mannesmann had accused Goldman, which Vodafone hired as one of
its financial advisers, of giving secret Mannesmann information to
Vodafone. Goldman got a close look at Mannesmann when it advised the
Germany company in its merger with British cell-phone service provider
Orange Plc. 
     Goldman withdrew from advising Vodafone while the matter played
out in court. 
 
No cash component
     The support from Vodafone shareholders comes after Mannesmann
rejected a friendly $107 billion bid over the weekend. The Financial
Times, citing a person close to the matter, reported that Vodafone
refuses sweeten the deal with a cash component. 
     "The wireless businesses of Mannesmann and Vodafone AirTouch
belong together," Chris Gent, Vodafone chief executive officer said in
explaining his company's rationale for that $107 billion offer. 
     Vodafone began a series of meetings with shareholders Tuesday,
many in the United States, to discuss the price it should offer for
Mannesmann. Mannesmann's Friday board meeting was originally scheduled
to discuss its plans to hand back shares in its engineering activities
to investors. 
     Vodafone faces an uphill struggle, no matter how much it
eventually offers. German corporate law weighs heavily against hostile
takeovers. 
     Vodafone has promised to hand back to shareholders stock in
British cellular rival Orange (ORA), which is in the process of being
acquired by Mannesmann. 
 
Strategic attractions
     Gent has highlighted the strategic and monetary attractions of
bringing together Vodafone and the German firm, pointing out the
enlarged company would have more than 42 million cellular customers,
and would control the four largest cellular companies in Europe not
connected to former state telecom monopolies. 
 
     Vodafone is already a minority shareholder in Mannesmann's
Mobilfunk and Omnitel units. Mobilfunk operates Germany's D2 network,
the country's most popular. Omnitel is Italy's second-largest cellular
operator, behind Telecom Italia Mobile, Europe's largest player --
until the Mannesmann/Orange deal goes through -- with 18 million
subscribers. 
     In purely financial terms, Gent maintained that combining the
companies would generate cost savings of 600 million pounds a year,
after tax, by 2004. 
     "Vodafone has to do this (bid), or become marginalized.
Mannesmann is strategically well placed in Europe," commented James
Downie, telecom analyst at ABN Amro. 
     Vodafone's weekend offer was worth 203 euros per share, valuing
Mannesmann, including Orange, at 103 billion euros. 
 
Europe's largest company
     A combined Vodafone/Mannesmann would be Europe's largest company
by market value, estimated to be more than $260 billion, and would be
the world's largest telecom company by market value. 
     Vodafone's 203 euros per share offer was rejected as "extremely
unattractive" by Mannesmann. The German firm's chief executive, Klaus
Esser, firmly rebuffed any need for his company to link with Vodafone
or any other company, in an interview with CNN Monday. 
     Analysts have calculated that Vodafone can pay up to 230 euros to
240 euros before the purchase dilutes the British firm's future
earnings. 
 
     Fears that Vodafone (LSE:VOD) will be forced to overpay have
proved a drag on the company's stock price recently, although the
shares bounced 6 pence to 293 pence Thursday. Mannesmann shares jumped
6 percent to 208 euros in Frankfurt.  
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sono curioso anche io visto che ne ho 5200 a 3,25..