British carrier seems to win AirTouch race; Bell Atlantic loses out to a $60 billion offer
Article Abstract:
Vodafone Group P.L.C. has agreed to purchase AirTouch Communications Inc. for about $60 million in cash and securities. The two companies plan to merge as equals, with each having an equal number of seats on the board of directors. Sam Ginn, chairman of AirTouch Communications will be named nonexecutive chairman and Chris Gent, current CEO of Vodafone will be named chief executive officer of the new entity. This merger will create an international telecommunications powerhouse, with Vodafone having established bases in England and Europe and AirTouch having bases in the United States as well as Southern Europe. Specific terms were not disclosed.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
Irate at Mannesmann deal, Vodafone weighs response
Article Abstract:
In response to Mannesmann's $33 bid billion for Orange PLC, Vodafone Airtouch, who had also been eyeing Orange, is putting a nonchalent public face on what seems to be a tumultuous plan to fight for a place in the European telecommunications market. Mannesmann threw itself into Vodafone's home British territory even though the two companies are partners in Europe. Vodafone could be reviewing a hostile bid for its partner-turned-rival, which would be under a microscope by English antitrust people and the European Union. The drama to come is a frantic scramble for a European mobile phone market that is predicted to double by 2002.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: The ability of professional standards to mitigate aggressive reporting. Auditors' incentives and their application of financial accounting standards
- Abstracts: Latest cyberdeal seems to have room for two winners. America Online reports good quarter and new members
- Abstracts: The world wide wait: don't get mad, get off. Web retailers finding allies at sites with nothing to sell. Expanding the boundaries of E-mail; reaching out and touching someone far away via the Internet
- Abstracts: Business meals, travel, and autos: for you, your executives, your employees. Business tax checklist: 25 ways to reduce and defer taxes
- Abstracts: Fixed assets don't squeak. Critical success factors for strategic alliances in the information technology industry: an empirical strategy