By Sarah Left, 27 August 1998 14:08
NEWS German firm, Mannesmann, has received initial approval to increase its stake in Italian telecoms holding company Oliman. Italy's Communications Ministry gave the nod to Mannesmann's bid for 49.9 per cent of Oliman. The German company currently owns 25 per cent, while Olivetti owns 75 per cent. The increase will cost Mannesmann £441m and will give it more control over Italy's mobile phone market. Olivetti will still retain control of Oliman with 50.1 per cent.
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