the same day, mannesmann's board advised shareholders to reject vodafone airtouch's offer on the grounds that it was inadequate. in response, esser stressed mannesmann's superior strategy of integrated products and claimed that it was worth $350 a share. he pointed out that, of the world's 10 largest telecommunications firms, only vodafone airtouch did not own fixed line operations. he said that it was of particular concern that vodafone airtouch's partners in the important markets of the u.s. (bell atlantic) and japan (bt and at&t) were substantial operators with global ambitions who continued to promote fixed-mobile services under their own competing brands.