- Europe: according to figures published by THOMSON FINANCIAL SECURITIES DATA, the money involved in European mergers-acquisitions reached new record heights in Europe and in the world in 1999, following an already good year in 1998. This type of operation increased to $1,213 bn last year, or some 105% more than the previous year and accounted for 37% of the amount of all transactions recorded throughout the world. Other characteristics, the transactions, of which an increasing number are now hostile, have reached sums never equalled before. 21 transactions exceeded the $10 bn mark, the largest being the $149 bn bid Britain's VODAFONE AIRTOUCH made for the German MANNESMANN. British firms, moreover, dominate the movement with $386 bn in transactions, ahead of the Germans ($261 bn) and French ($163 bn). Regarding the consultancy banks, America's GOLDMAN SACHS leads the show with 147 operations undertaken representing $709.9 bn, closely followed by MORGAN STANLEY DEAN WITTER (182 operations for $655.4 bn), these two banks having alone accounted for 75% of the sum of all operations. Although all sectors were concerned by this frenzied activity, telecommunications was ahead, and especially mobile telephony, which was the subject of unequalled cross-border operations, followed by the retail and investment banking sector.