Furthering its ambitions to become a major telecommunications player in Europe, motor components and electronic products maker Robert Bosch GmbH is to take control of communications technology company Ant Machrichtentechnik GmbH by buying the 40.8% stake held by steelmaker Mannesmann AG. Bosch already has 40.8%, the two companies having jointly bought the business from AEG in 1982 in the hope of forming a major telecommunications joint venture with then struggling AEG. Those plans fell through when AEG was too strapped for cash to play an active role, and Mannesmann has been holding the stake simply as an investment; the remaining 18.4% is held on a similar basis by insurance company Allianz AG. Ant had turnover of about $790m in 1986. Bosch also plans to increase its stake in another telecommunications company, Telefonbau & Normalzeit Lehner & Co (Telenorma) to 85% from 55%, and is negotiating to take a stake in France’s Jeumont-Schneider SA. Mannesmann will use the unspecified cash it will get for its Ant shares in new acquisitions to add to its Mannesmann-Kienzle and Mannesmann-Tally computer businesses.
Content from our partners
