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AirTouch Said to Be in Talks With Vodafone

September 07, 1998|Reuters

Vodafone, Britain's largest mobile phone operator, is considering a merger with U.S. cellular firm AirTouch, the Observer newspaper said. Industry sources confirmed the two firms held talks last year but could not agree on a price, the paper said, adding that since then, Vodafone's value had more than doubled, making a deal more viable. San Francisco-based AirTouch, the second-biggest mobile phone company in the U.S., is valued at $32 billion, compared with Vodafone's $38 billion, the paper said. The Observer added that the companies had little overlap.

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