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%

Railroad Passenger Operations, Line-Haul Railroads, Communications, Broadcasting and Telecommunications, Passenger rail services, Deutsche Bahn AG, Article, Mannesmann Arcor

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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.

United Kingdom, Cellular and Other Wireless Telecommunications, Mobile Radio Services, Securities issued, listed, Mergers, acquisitions and divestments, Telecommunications services industry, Wireless communications services, Steel industry, Orange PLC

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