By Sarah Left, 24 November 1999 16:51
NEWS Two minority shareholders in German firm, Mannesmann, have rejected a hostile takeover bid from UK mobile phone company, Vodafone Airtouch.
Hong Kong investment group, Hutchison Whampoa - which owns a 10 per cent stake in Mannesmann - and US workers union, AFL-CIO, have turned down the £74bn bid. The union says it holds sway over 13 per cent of the German company's shares.
Mannesmann completed the deal to buy rival UK mobile phone company, Orange, yesterday.
Hutchison Whampoa has said it sees the Orange/Mannesmann merger as a better way forward in telecoms than what Vodafone has to offer.
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