Vodafone may raise Mannesmann offer

Vodafone, the mobile phone group whose €103 billion (£81 billion) bid for Mannesmann was rebuffed at the weekend, was last night considering making a higher offer for the German group. The move seemed to represent a change of strategy for the British group, which had been expected to mount a hostile bid following a crushing rejection from Mr Klaus Esser, Mannesmann's chairman.

Mr Chris Gent, Vodafone's chief executive, said yesterday his company was still seeking a recommendation from Mannesmann for its revised offer. He added, however, that he was confident a cross-border hostile bid - which would be unprecedented in Germany - could succeed.