IN THE PAPERS
In the papers 8 April
08-04-2008
by Sylvia Leatham
BT chief Verwaayen to step down | Yahoo and Microsoft set for endgame, say analysts
The Irish Independent reports that the European Commission has given the green light to allow airline passengers to use their mobile phones during flights, as noted by ENN on Monday.
The Irish Times says that search engines Google and Yahoo are the most popular websites among the Republic's 1.5 million internet users, according to a survey from Net Behaviour. Read the full story on ENN.
The paper also says that a takeover of Smart Telecom by O2 is not imminent, according to market sources. It had been reported that the European telecoms giant was in advanced negotiations to acquire Smart in an all-cash deal and that heads of agreement could be signed within the next 10 days. While the two parties have been in talks, it is understood that those negotiations are not at an advanced stage. O2 and Smart have declined to comment on the reports.
The same paper notes that Digiweb has bought web-hosting and domain registrar firm Novara. Read more on this story on ENN.
The Irish Examiner reports that Cork-based internet dating site Singleinthecity.ie has been acquired by Maybefriends.com, as reported by ENN on Monday.
According to the Financial Times, Yahoo is positioning itself for the endgame in its battle with Microsoft by issuing its strongest rejection yet of its rival's USD42 billion takeover offer. Yahoo swiftly responded to Microsoft's move to set a deadline on Saturday of three weeks to conclude an agreement, saying Microsoft was still substantially undervaluing Yahoo. However, analysts said the rhetoric from both sides suggested a negotiated settlement might happen, with Microsoft offering a deal worth more than its initial USD31 a share.
The paper also says that Ben Verwaayen is to step down as chief executive of BT at the end of next month, after more than six years at the helm. He will be succeeded by the head of the UK telecom group's retail business, Ian Livingston. The move follows a period when BT's business and share price have performed poorly. However, company insiders insisted that the timing of Verwaayen's departure was his own choosing.
The paper also says that Google, Microsoft and other online search firms could be forced to further tighten their privacy controls after an influential EU privacy group found that existing safeguards did not sufficiently protect users' personal information. An opinion published by the Article 29 Working Party, a group of national officials who advise the EU on privacy issues, found that search companies "have so far insufficiently explained the nature and purpose of their [data collection] operations to the users of their services".
The Wall Street Journal notes that Motorola has reached a truce with activist shareholder Carl Icahn, agreeing to nominate two of Icahn's picks for its board in exchange for his agreement to end his proxy battle for four seats. The deal means Motorola management can "avoid a costly and distracting proxy contest," said Motorola chief Greg Brown in a statement. It also allows management to concentrate on turning around the mobile handset division, which had a loss of USD1.2 billion last year amid plummeting sales.
Caped Koala Studios has built a virtual world for kids, combining education and social networking 