Exploiting success, Mannesmann increases its big stake in Arcor
Article Abstract:
Mannesmann AG of Germany, a diversified industrial group, has increased its stake in Mannesmann Arcor, a start-up telecommunications company, to 74.9% from 49.8%. Arcor was founded by Mannesmann and Deutsche Bahn AG of Germany, a rail transport company, with Mannesmann having an option to increase its stake in Arcor in 1999. Mannesmann paid Deutsche Bahn 1.2 million marks, or $667.2 million, to acquire the additional 25.1% stake. The remaining 25.1% of Arcor is owned by Deutsche Bahn. Arcor projects to break even in 2001.
Comment:
Increases its stake in Mannesmann Arcor, a start-up telecommunications company, to 74.9% from 49.8%
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Mannesmann deal gets chilly greeting; Orange's Euro30.65 billion price tag called high
Article Abstract:
Mannesmann AG shareholders "slammed" the firm's stock after it agreed to acquire Britain's Orange PLC for GBP19.8 billion (Euro30.65 billion). It is not likely that Mannesman stockholders will prevent the sale from taking place, though. Mannesmann was one of the companies that suffered the most Thursday, when its shares plunged 9.1% (E14.40) to E143.50 on the Frankfurt Stock Exchange.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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Comment about this article or add new information about this topic:
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