News In Brief
Saturday January 21 2006
Swisscom chief Alder resigns
JENS Alder, the chief executive of Swisscom, Switzerland's largest telecoms operator, has resigned in the wake of government moves to halt the group's investment drive abroad, which included the acquisition of Eircom. Alder was replaced with immediate effect by the chief executive of Swisscom's mobile telephone division, Carsten Schloter.
Go-ahead for Ark Life deal
THE European Commission has given the green light to Hibernian Life Holdings' purchase of AIB's Ark Life insurance division. Under its terms, AIB will get a 24.99pc stake in Hibernian, which is owned by British insurance group Aviva, and a cash payment of up to €205.4m. EU competition watchdogs found that the deal would not hamper competition.
Break-up of Highbury starts
THE break-up of magazine publisher Highbury House started yesterday after the business collapsed with debts of around £27m. Buyers were immediately found for two divisions of the troubled firm, which was chaired by former 'Sun' editor Kelvin MacKenzie until just before Christmas.
