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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 subsequent several days till, on January 15, Vodafone agreed to pay $ninety seven per share, for a complete of $sixty two billion. That worth was 33% greater than Bell Atlantic’s original supply and 43% greater than AirTouch’s share price earlier than the first rumors of Bell Atlantic’s provide had surfaced. Implicit in the bid4papers deal was the fact that for its shareholders to break even, Vodafone must discover cost savings and income turbines worth not less than $20 billion. Yet the market preferred this deal very a lot. In the course of the course of this bidding struggle, Vodafone’s inventory price actually increased some 14%.