Vodafone AirTouch PLC
10 December 1999
Vodafone announces BellSouth exercises
pre-emptive right on E-Plus
Vodafone AirTouch Plc ('Vodafone') announced on 4 October 1999
that it had reached an agreement with France Telecom SA providing
for the sale of Vodafone's 17.24 per cent equity interest in E-
Plus Mobilfunk GmbH, the German cellular network operator, for a
cash consideration net of debt of DM3.42bn (approximately
GBP1.10bn). Vodafone is divesting this interest pursuant to the
undertaking it gave to the European Commission in connection with
its merger with AirTouch Communications, Inc. The agreement with
France Telecom provided that the sale be carried out in
accordance with existing agreements amongst the shareholders of E-
Plus, which provided inter alia for a pre-emption right in favour
of BellSouth, one of the co-shareholders of E-Plus.
Vodafone announces that it has received a pre-emption notice from
BellSouth indicating that BellSouth is exercising its pre-emptive
right in connection with Vodafone's sale of its interest in E-
Plus.
For further information please contact:
Tim Brown, Investor Relations Director, or
Melissa Stimpson, Senior Investor Relations Manager
at Vodafone AirTouch Plc
Telephone +44 (0)1635 33251
Lulu Bridges
Tavistock Communications Limited
Tel: +44 (0) 171 600 2288
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