Vodafone, Cingular poised for U.S. bid battle
LONDON/PHILADELPHIA, Feb 13 (Reuters) - The world's largest mobile telephone company, Vodafone Group Plc (London:VOD.L - News), and U.S rival Cingular Wireless were poised on Friday for a head-to- head bid battle that could value struggling AT&T Wireless Services Inc. (NYSE:AWE - News) at about $35 billion.
As a 5 p.m. EST (2200 GMT) bidding deadline nears, sources close to talks said Vodafone was putting the final touches on a bid, while Cingular was prepared to raise its initial $11 a share, or $30 billion, offer to top Vodafone overture. But final bid strategies were expected to be left to the 11th hour.
"What happens in these auctions is that everybody is making decisions until the last minute about how they want to play it and the...
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As a 5 p.m. EST (2200 GMT) bidding deadline nears, sources close to talks said Vodafone was putting the final touches on a bid, while Cingular was prepared to raise its initial $11 a share, or $30 billion, offer to top Vodafone overture. But final bid strategies were expected to be left to the 11th hour.
"What happens in these auctions is that everybody is making decisions until the last minute about how they want to play it and the...
(continues)
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