Magazine

Table: The Path to Power


JANUARY, 1999

Vodafone's Chris Gent explodes on the international scene, outbidding American rival Bell Atlantic for control of Sam Ginn's AirTouch Communications. The $63 billion deal creates Vodafone AirTouch, the first global giant of wireless telephony.

SEPTEMBER, 1999

Gent strikes an agreement with Bell Atlantic to combine both companies' wireless networks in the U.S. They're later marketed as a single brand, Verizon Wireless.

OCTOBER, 1999

Mannesmann, then Vodafone's partner in Germany, stuns Gent by snapping up British operator Orange for $28 billion. Mannesmann briefly competes with Vodafone for European supremacy.

NOVEMBER, 1999

Gent hits back, launching a hostile bid for Mannesmann. The price rises with Vodafone stock, reaching a world-record $183 billion by the time Vodafone prevails three months later.

FEBRUARY, 2000

Gent forms Net venture with Vivendi's Jean-Marie Messier. The goal: to create a Net portal, later dubbed Vizzavi, that will reach customers through their PCs, digital TVs, and cell phones.

JUNE, 2000

Bidding wars break out for next-generation wireless licenses. Britain alone costs $35 billion; Germany tops $50 billion. Investors are spooked.

MAY, 2001

As debt-ridden competitors sell, Gent buys. He ups stakes in Japan's J-Phone and Spain's Airtel, partially financing deals with $5.4 billion in new equity. Subscribers in Vodafone's 29-country empire surge to 89 million.

Data: BusinessWeek


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