IN THE PAPERS
In the papers 30 November
30-11-2007
by Sylvia Leatham
Alphyra postpones share placement | Facebook reins in Beacon service
The Irish Times says that Goodbody Stockbrokers is seeking to raise EUR40 million in equity to fund the acquisition of 338 Eircom masts by a company called Towercom. The fundraising began in November and Goodbody is believed to have raised more than half the funds to date. It hopes to close off the cash call by Christmas.
The paper also notes that Communications Minister Eamon Ryan has appointed John Doherty as chairman of ComReg for two years, with effect from 1 December. Doherty has served as a commissioner since the establishment of ComReg five years ago, as well as chairman from December 2003 to November 2004.
The paper also reports that more than EUR3 billion in venture capital funding will be available to Irish firms over the next five to seven years, the Irish Venture Capital Association (IVCA) has predicted. Prof Michael Donnelly, chairman of the IVCA, said EUR1.4 billion would have been raised by Irish venture capital firms by the end of the first quarter of 2008. Based on the recent increased levels of co-investment between Irish and international venture capitalists in local firms, Prof Donnelly said he would expect "at least" an additional EUR1.6 billion to be invested by overseas venture capitalists during the life of the current funds.
The same paper notes that Ireland's first assistive technology centre opened this week at the Dublin premises of Enable Ireland. The National Assistive Technology Training Centre will advise and train people with disabilities or work-related injuries on technologies that can enhance their lives and enable them to find work.
The paper also notes that AIB says it is deploying the largest installation of IP telephony in Ireland to date with 5,000 Cisco VoIP phones being installed at its headquarters. The contract for the One Network IP Telephony Project has been awarded to Eircom and its systems integration wing Lan Communications.
The Irish Independent reports that the private equity and management owners of Alphyra have decided to postpone the sale of EUR150 million shares ahead of the e-payment group's planned merger with UK cash machine operator Cardpoint next week. The share placement is now likely to take place in the first quarter of next year, according to sources, assuming that turmoil in the financial markets dies down in the meantime.
The paper also reports that a new survey by Experian shows the Christmas rush to the shops is less frenzied than last year with fewer shoppers hitting the stores so far. Experts have put the slump down to a gloomy consumer outlook and the rise in online shopping taking business away from stores.
According to the Financial Times, social networking site Facebook has moved to placate users concerned about the threats to privacy posed by its new 'Beacon' advertising system. The move comes a week after MoveOn.org, a non-profit public policy advocacy group, joined a growing chorus of critics of the new service, which alerts users' networks of online friends about things they buy on other websites. Facebook said it has made changes to the way users approve Beacon messages before they are published. From now on, "no stories will be published without users proactively consenting," Facebook said.
The Wall Street Journal reports that Google is planning to apply to bid for wireless spectrum in a January Federal Communications Commission auction in the US, according to sources. If it wins a wireless licence, Google would be in a position to become a provider of mobile phone and internet services, to partner with others interested in doing so or to lease the spectrum to them. The company has said it wants to make mobile networks more open, so that consumers can use any internet service and application and move their handsets between carriers without onerous restrictions.
The paper also notes that Apple and AT&T plan to begin selling a version of the iPhone next year that operates on a 3G wireless broadband network. AT&T chief Randall Stephenson said that consumers could expect an iPhone that works on 3G networks sometime in 2008.
Caped Koala Studios has built a virtual world for kids, combining education and social networking 