Provides a detailed case study of the take‐over bid from Vodafone AirTouch for German conglomerate Mannessman, which was both audacious and massive. Addresses the question of whether a pure mobile play is indeed a sensible strategy for the new millennium, but concludes it is too early for a definite answer. Argues the bids most important consequence is that it has yet again forced re‐examination of Telco’s strategic possibilities.
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