What is Mannesman thinking?
from the let's-run-away-from-vodaphone dept
Just to keep you all up to date with the latest rumors, Mannesman (Germany’s fastest growing telecoms company) is thought to be considering buying a stake in AOL Europe or partnering with Vivendi (a French company that seems to be involved in many different industries from utilites to the internet). The reason for this embrace of all things internet related by Mannesman is the current takeover bid by Vodaphone Airtouch. Mannesman feels the need to show its stockholders that it can still be aggressive in the internet arena (therefore giving value to its shareholders), the hope is that this move will prevent the takeover bid from being successful. To me this seems an almost pitiful attempt by Mannesman to prevent hostile takeover. AOL Europe is not AOL America (they’re not nearly as strong here) and partnering with a mediocre French company with some internet holdings will only decrease shareholder value. So far, Vodaphone still holds all the cards, Mannesman is merely showing it’s managements fear of decapitation.
