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NEW YORK-All bidders for the United Kingdom’s One-2-One have reportedly dropped out, so Cable & Wireless plc and MediaOne Group, which own the personal communications services carrier, will have to go back to the drawing board.
“We remain interested in the UK market, which is very attractive, but not at any price,” Germany’s Mannesmann AG said.
France Telecom, the other finalist, as well as Deutsche Telekom and Vivendi, also have pulled out. Bidders set their offer ceilings at $12.45 billion.
This compares to a target of $17.19 billion set by Merrill Lynch & Co. Inc. and Lehman Brothers Inc., the investment banks running the One-2-One auction.
