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In the papers 26 September
Thursday, September 26 2002
by Sylvia Leatham


Betdaq chief executive Aidan Donnelly is believed to have purchased the assets of
Worldport | NTL Ireland reported pre-tax losses of EUR24.2m in 2001

The Irish Independent reports that former Betdaq chief executive Aidan Donnelly
is believed to have purchased the assets of Worldport, the Web-hosting company
that went into liquidation last year. Donnelly reportedly paid over EUR3.5
million for the assets, and sources say his partner in the new business is former
Worldport executive Bernard Geoghegan. The company will offer a range of
telecommunications services, including co-location facilities and IT consulting.









The same paper reports that telecommunications firm Nevada Tele.com has cut 16
jobs in Dublin and 44 in its Belfast office. Read the full story at HREF="/news.html?code=8633177">ElectricNews.Net.





As noted by href="/news.html?code=8632621">ElectricNews.net
on Wednesday, the paper says that Ericsson Ireland was beaten out by Nokia for a
multi-million euro contract for the rollout of part of Vodafone Ireland's 3G
network. 





The Irish Independent also writes that Hewlett-Packard is set to cut 1,800 more
jobs than initially anticipated. Previously, the firm had plans to cut 15,000
jobs following its merger with Compaq. read the full story on HREF="/news.html?code=8633181">ElectricNews.Net.





The same paper says that Microsoft has announced the loss of 15 jobs at its Irish
.NET operation, as reported by href="/news.html?code=8632621">ElectricNews.net
on Wednesday. 





The paper also notes that recruitment Web site Monster.ie is to spend EUR50,000
on an advertising campaign that makes fun of the recent road sign controversy in
Dublin. 









The Irish Times reports that NTL Communications Ireland reported pre-tax losses
of EUR24.2 million in the year to 31 December 2001, widening from EUR11.9 million
in the previous year. The steep rise in pre-tax losses was caused by an increase
in operating expenditure, which jumped to EUR89.3 million during 2001, up from
EUR77 million in 2000. Citing papers filed with the Company's Registration
Office, the newspaper says turnover at the firm, which provides TV services to
Dublin, Galway and Waterford, rose to EUR69.6 million for the year, up from
EUR66.1 million in 2000. 



The paper also reports that indigenous investment in Irish high-tech companies
increased last year, according to the Irish Venture Capital Association. Read the
full story as reported by href="/news.html?code=8632456">ElectricNews.net
on Wednesday. 





The same paper notes that Siemens is offering capital investment to wireless
telephony start-ups in the Republic through its Siemens Mobile Acceleration
(SMAC) fund, as noted by href="/news.html?code=8631800">ElectricNews.net
on Tuesday. 





According to the Financial Times, Mobilkom Austria has launched Europe's first
national 3G network. The company, which has more than 50 percent of Austria's
mobile telephony market, has so far spent EUR72 million on its 3G network. The
UMTS service, which will be rolled out commercially as soon as handsets become
available, offers 25 percent national coverage initially. Mobilkom expects to
have 1,000 base stations offering 40 percent coverage throughout the country by
the end of the year. 



The same paper reports that troubled French telecoms equipment group Alcatel is
selling a 6.1 percent stake in defence electronics company Thales, in a bid to
raise some EUR340 million. Alcatel will retain 9.7 percent of Thales and remain
the biggest shareholder in the company after the French state, which owns 33
percent. Shares in Alcatel rose 8.5 percent on the news in morning trading in
Paris to reach EUR2.56.



The Wall Street Journal says that Nortel Networks expects its third-quarter
revenue to fall by around 15 percent compared with the second quarter. Nortel
also said it expects a "marginally larger" loss, excluding certain charges, in
Q3 compared with Q2. The company, which blamed its adjusted forecast on
deteriorating US telecoms-equipment spending and reduced spending on wireless
networks in Asia, announced a plan to consolidate its shares in order to avoid a
delisting by the New York Stock Exchange.



The same paper reports that Mitsubishi Electric is in discussions that could lead
to a merger of its memory-chip business with Elpida Memory. People familiar with
the talks said Elpida, a joint venture owned by NEC and Hitachi, was in
negotiations to buy Mitsubishi's dynamic random access memory (DRAM) chip
business by the end of the year. The combined company would become the world's
No. 4 maker of memory chips, after Samsung Electronics, Hynix Semiconductor and
Micron Technology.