Vodafone, France Telecom May Bid for Mannesmann

Mannesmann’s shares are set to extend recent gains today after British newspapers reported that France Telecom and Vodafone AirTouch are mulling over a joint $73-billion hostile bid for Germany’s largest mobile-phone company.

France Telecom, Europe’s No. 2 phone company, and Vodafone, the world’s largest wireless company, declined to comment on the reports in the Sunday Telegraph and Sunday Times newspapers, which did not cite sources. A Mannesmann spokesman said he was “not aware” of such a bid.

Mannesmann, France Telecom and rivals are racing to capture a larger chunk of the European mobile-phone market, which is expected to double in size during the next two years. Just last month, Mannesmann offered about $34 billion for British cellular operator Orange, while France Telecom agreed to pay almost $9 billion to gain control of the German wireless company E-Plus.