Vodafone/Goldman Bells toll

Vodafone has probably been Goldman Sachs’ best European client - ever. The investment bank helped spin it out of Racal Electronics 18 years ago to foil a takeover attempt by Cable & Wireless. It then advised the company on a string of iconic acquisitions, culminating in the takeover of Mannesmann in 2000, which still holds the record as the world’s largest hostile bid. Sir Christopher Gent, Vodafone’s former chief executive, and Scott Mead, a former Goldman partner, were thick as thieves. This d...