News Burst: Is One 2 One up for grabs?

Germany's Mannesmann, which runs the country's mobile-phone network, and France Telecom are understood to be circling UK mobile phone company One 2 One, according to a Financial Times report today. One 2 One, which is owned by Cable and Wireless and US group Media One, are understood to be offering around £8 billion, well under the £11 billion mark the company is looking for.

Germany's Mannesmann, which runs the country's mobile-phone network, and France Telecom are understood to be circling UK mobile phone company One 2 One, according to a Financial Times report today. One 2 One, which is owned by Cable and Wireless and US group Media One, are understood to be offering around £8 billion, well under the £11 billion mark the company is looking for. The report says C&W and MediaOne may cancel the sale and consider a share listing.