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Vodafone entered the fray on January 7 with a bid of round $fifty five billion, or $89 per share. Negotiations continued for the next a number of days until, on January 15, Vodafone agreed to pay $ninety seven per share, for a complete of $62 billion. That worth was 33% greater than Bell Atlantic’s original provide and forty three% greater than AirTouch’s share price earlier than the primary rumors of Bell Atlantic’s provide had surfaced. Implicit within bid for papers the deal was the fact that for its shareholders to break even, Vodafone would have to discover price financial savings and revenue mills price not less than $20 billion. But the market liked this deal very much. Throughout the course of this bidding war, Vodafone’s inventory worth actually elevated some 14%.

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