IN THE PAPERS
In the papers 15 February
15-02-2008
by Deirdre McArdle
Bebo subject of takeover rumours | AT&T enters Indian mobile market
The Irish Times reports that the Public Accounts Committee, Department of the Environment secretary general Geraldine Tallon said it cost almost EUR500,000 to store unused electronic voting machines last year, down from EUR700,000 in 2006. Sixty percent of machines had been moved to central storage in Gormanston, Co Meath, which had reportedly cut the costs.
The same paper says that Rupert Murdoch's News Corp has jumped into the fight for control of Yahoo, reviving discussions with the search giant about a possible combination that would thwart Microsoft's unsolicited bid. Read the full story on ENN.ie.
The paper also reports that Belfast-based mobile software company Aepona scooped the Best Service Delivery Platform award in the GSM Association's annual Global Mobile Awards in Barcelona. Read the full story on ENN.ie.
Still in the Irish Times, Vodafone on Thursday poached a senior Microsoft executive. Pieter Knook, a senior vice-president of Microsoft's mobile business, is to lead Vodafone's new internet services unit.
According to the Irish Independent social networking site Bebo has become the subject of takeover speculation on reports it is being prepared for a possible sale. Sources on Thursday confirmed reports that the company has retained US investment bank Allen & Co to advise in the event of an offer being tabled. However, talk of any imminent corporate activity was being played down. US media houses CBS, Viacom and Comcast, as well as Google and Microsoft have been mooted as potential suitors.
The Irish Examiner reports that just under three-quarters of Irish adults conducted Christmas shopping online last year, splashing out EUR150 million during the festive season. Research carried out for the Makeitsecure campaign also found one-in-four adults had been targeted by online fraudsters. Research also found that 3 percent of Irish adults had credit cards details stolen online.
The same paper says internet security firm Trend Micro posted sales of USD231 million (EUR158 million) for its fourth quarter. The firm said 60 percent of its EU revenue is driven through its Cork operations, which it said has been steadily growing over the years. On a group level, Trend Micro's fourth-quarter sales represent a 13 percent growth year-over-year and 4 percent sequential growth.
The Financial Times reports that Yahoo has sent a letter to shareholders arguing that its current management and strategy will create value compared with a bid by Microsoft that "undervalues" the company. The letter from chief executive Jerry Yang came after Legg Mason, a leading institutional shareholder, spoke out in favour of accepting any raised Microsoft bid. It also followed hints from Microsoft that it may go round Yahoo's board and make an exchange offer directly to stockholders.
The same paper says the US telecoms giant AT&T is targeting India as it seeks to expand its consumer mobile phone operations outside America for the first time since consolidating its grip on the domestic market. The firm has applied for a mobile licence in India in partnership with Mahindra Telecommunications, a local telecoms company, and Ralph de la Vega, chief executive of AT&T's mobile business, said it was hoping to acquire spectrum for its wireless services.
According to the Wall Street Journal, four of the largest US newspaper publishers have teamed up to create an online ad-sales network. Gannett Co, Hearst Corp, the New York Times Co and Tribune Co, are setting up the network as a stand-alone company called quadrantOne. The new company will allow national advertisers to buy space on certain of the websites operated by the group's newspapers as they bid to capture new sales in the midst of revenue at their print editions evaporating.
Qualcomm and Nokia are close to an agreement on procedural issues relating to a court case between them, the two companies said. The two firms have been waging legal battles in Delaware Chancery Court over issues related to a 2001 patent-licensing agreement, which expired in April 2007. According to the Wall Street Journal the companies have been negotiating an agreement in a separate arbitration case, which would then be consolidated into the Delaware case. Nokia said lawyers for the companies discussed ways to resolve certain issues common to all potential cases between them. Qualcomm issued its own statement saying it is pleased that the issues with Nokia are moving toward a prompt resolution.
Caped Koala Studios has built a virtual world for kids, combining education and social networking 