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TAKEOVER: Vodafone plots US$ 30bn bid for AT&T Wirless
Posted by Arne Hess - on Monday, 02.02.04 - 11:45:26 CET under 01 - General News - Viewed 9384x
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How British "The Observer" reported yesterday, Vodafone plans to takeover US AT&T Wireless:

Vodafone, the world's largest mobile telephone operator, is preparing to launch a $30 billion bid for AT&T Wireless, which would be its biggest acquisition since it bought German rival Mannesmann for about £100bn in 1999.
Chief executive Arun Sarin is believed to have ordered his financial advisers to draw up a draft document to help persuade investors that the acquisition of US firm AT&T Wireless makes commercial and strategic sense.

But there is still a chance that Sarin will be prevented from bidding by some of his big shareholders, who fear an aggressive move in the US will hold back earnings growth for one or two years.

City sources believe Sarin will fight hard to make the case for a takeover of AT&T Wireless, which will receive initial bids from interested parties on 13 February. Rival offers are expected by US operator Cingular and Japanese giant NTT DoCoMo.

Wow - and another takeover from Vodafone in the US. Who of you still remembers Airtouch which was a US carrier also, bought by Vodafone in the 90s (these days the company name was Voadafone Airtouch) and which was the beginning of Vodafone's success story (before they was a nobody). But anyway - it makes sense for Vodafone to takeover a US GSM carrier since North America is the only white spot for Vodafone on the GSM map and T-Mobile already showed how successful and important a US share can become!

Cheers ~ Arne

Related Links : [More Information] Source : [The Observer]