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News > International
Vodafone raises pressure
January 11, 2000: 4:08 a.m. ET

Cellular firm unveils Net platform, awaits final Mannesmann bid defense
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LONDON (CNNfn) - Vodafone AirTouch jacked up the pressure on bid target Mannesmann Tuesday by announcing a new Internet venture with a string of blue-chip partners.
    Vodafone, the world’s largest cellular operator, is launching its wireless Internet services platform in July, and has lined up IBM to design and operate the service, with support and services from other companies including Sun Microsystems (SUN), online brokerage Charles Schwab (SCH), palmtop computer maker Psion (PON), mobile phone giants Nokia and Ericsson and online booking company Travelocity.com.
    Mannesmann’s final defense against Vodafone’s record $142 billion hostile takeover bid is due Friday, and the German firm has made much of the broader array of opportunities, including Internet presence, that its two-pronged fixed- and mobile strategy offers.
    Vodafone’s strategy is to focus on cellular services, and the latest venture is part of its plan to broaden the services available on a cellular phone by adding data and e-commerce options.
    The new Internet platform, as yet unnamed, will be accessed through an Internet portal run by IBM. Other cellular firms are also rushing to boost their presence on the Web, and U.K. rival Orange, recently acquired by Mannesmann (FMMN), has launched its own Internet Service Provider.
    Vodafone stock rose 3 percent to 311.5 pence in early London trade Tuesday, while Psion shares surged 12 percent to 2,609 pence. Back to top
    -- from staff and wire reports

  RELATED STORIES

Mannesmann 1999 profits soar - Jan. 07 , 2000

Vodafone launches $138B Mannesmann bid - Dec. 23 , 1999

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Vodafone AirTouch

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

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Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.