Friday 26 November: Roundup of the IT news from the national and international press.
Technology stocks have continued to be in demand and yesterday helped push Nasdaq to yet another all time high, writes The Washington Post. Nasdaq rose by 71.76 to finish at 3,414.63. Stocks in Intel and Intuit were up, although stocks in IBM fell.
The Times reports that Orange's chief executive, Hans Snook, will attempt to convince fund managers to reject Vodafone AirTouch's £82 billion hostile takeover bid for Mannesmann. Meanwhile, Chris Gent, chief executive of Vodafone, has told the German press that the company is confident it can obtain 50 per cent plus one share for its offer by the end of January.
Marconi acquired the public networks business of German firm Robert Bosch for £95 million yesterday, writes The Independent. The deal pushed Marconi's shares up by 11 per cent to 880p and will increase its presence in the European telecommunications market.
Microsoft is in discussions to acquire Japanese cable TV operator Titus Communications, writes The Guardian. An industry watcher said Microsoft was in talks over purchasing US cable operator MediaOne's 60 per cent stake in Titus. MediaOne recently agreed to sell its 29.7 per cent stake in Telewest Communications to Microsoft.
AT&T is considering an initial public offering of the shares of its planned wireless tracking stock, in what could be the largest ever IPO in the US, The Wall Street Journal reports. The move could raise up to $10 billion, according to people close to the situation.
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