One2One to ring up pounds 10bn
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.ONE2ONE, the British mobile phone company, is set to fetch a price of more than pounds 10bn amid intense bidding interest from a string of international companies from Deutsche Telekom to Microsoft, writes our City staff.
Merrill Lynch, advisers to One2One, are understood to have drawn up a shortlist of three bidders after the closing date for initial bid approaches last Friday.
In a surprise to the City, the group, led by managing director Tim Samples, has attracted interest from eight groups. They include Deutsche Telekom's prospective merger partner Telecom Italia, Mannesman, the German media and engineering group, and France Telecom. Deutsche's interest in the group has been kindled by the mounting number of regulatory obstacles being placed in the way of its pounds 50bn merger with Telecom Italia. US groups have also shown an interest, according to weekend reports. They include AT&T Wireless, a division of the US telecoms giant now engaged in a merger with MediaOne, joint owner of One2One.
Others reported to be interested include Ameritech, Bell South, SBC Communications and MCI WorldCom. Microsoft is only expected to bid if it can team up with a partner to avoid a clash with competition authorities.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments