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November 24, 1993

MANNESMANN CONFIRM LOSSES

By CBR Staff Writer

Mannesmann AG confirmed that it made a loss in the first nine months of 1993 but forecast recovery next year: sales from January to September rose 1.2% to 11,400m; the key to a return to profit in 1994 will be the D2 cellular phone arm, which has already met its 1993 target of 350,000 customers, and Mannesmann says it will be profitable in 1994, a year ahead of plan.

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