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Mannesmann eyes AOL?
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January 28, 2000: 3:47 a.m. ET
Report says Vodafone's takeover target mulls a minority stake in AOL Europe
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LONDON (CNNfn) - Mannesmann reportedly is in talks to buy a minority stake in online venture AOL Europe, as the German telecom operator works to stave off an unsolicited takeover bid by convincing shareholders that it can best thrive on its own.
Such a move would be the latest in a string of moves by Mannesmann to fend off the offer, now valued at roughly $158 billion, from U.K.-based mobile phone giant Vodafone AirTouch Plc (VOD: Research, Estimates).
Talks between Mannesmann and AOL Europe, which is jointly owned by German media giant Bertelsmann and U.S.-based America Online Inc., are at an early stage, the Financial Times reported Friday. America Online is in the midst of a buyout effort of Time Warner Inc., the parent of CNNfn.
Mannesmann (FMMN) declined to comment on the report.
The FT said talks have been held up because of the complexity of any deal and said it was unclear whether America Online or Bertelsmann would reduce either of their stakes in the venture.
Klaus Esser, Mannesmann's chief executive officer, is trying to convince shareholders the company's best prospect is to grow independently. He has led what are now stalled talks about boosting Mannesmann's stake in French telecom firm Cegetel, a unit of Vivendi S.A. And on Thursday, Mannesmann announced plans to form Internet joint ventures with France's Cap Gemini, a leading computer consulting firm. 
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Vodafone
Mannesmann
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