DUSSELDORF, Germany-In line with its recent agreement with Vodafone AirTouch plc, Mannesmann AG said it will accelerate the initial public offering of its automotive and engineering division “during the upcoming weeks” under a new name.
The company announced it would spin off the division last year, as part of its defense against the hostile takeover bid by Vodafone AirTouch. The two companies agreed to merge earlier this month.
In addition, four members of its supervisory board-Josef Ackermann, Canning Fok, Jurgen Schrempp and Henning Schulte-Noelle-will be appointed to the board of directors of Vodafone AirTouch.
