A round-up of other business news in brief...

E-net signs 17m deal with Vodafone

E-net, the company that manages the Government’s metropolitan area networks in 27 towns around the State, has signed a €17 million deal with Vodafone Ireland to provide high-capacity fibre-optic connectivity.

Under the deal, Vodafone will be able to offer greater coverage for a large proportion of its regional and rural transmission sites.

The 15-year deal will primarily enhance data services such as mobile broadband.

A spokeswoman for Vodafone said download speeds would now be less likely to slow if the number of users increased.

Sun ‘willing’ to resume IBM talks

Sun Microsystems would be willing to resume acquisition talks if IBM makes a stronger commitment to complete the purchase, two people familiar with the matter said.

The companies are locked in a stalemate after negotiations fell apart almost two weeks ago, said the people, who declined to be identified because the information is confidential.

There were no discussions as of yesterday and each company is waiting for the other to make a move, they said.

IBM, the world’s largest computer-services company, withdrew an offer valued at about $7 billion (€5.3 billion) after Sun broke off exclusive negotiations earlier this month. – (Bloomberg)

Nokia profits fall as demand slumps

Nokia has reported its lowest profit in more than a decade as handset demand slumped.

First-quarter net income declined to €122 million, or three cents a share, from €1.22 billion, or 32 cents a share, a year earlier, the Finnish company said.

Profit had been predicted at €232 million. Revenue fell 27 per cent to €9.3 billion, missing the €9.8 billion analysts had anticipated.

Paddy Power chief’s 4% pay rise

Bookmaker Paddy Power’s chief executive Patrick Kennedy received a 4 per cent pay rise to almost €1.4 million last year, according to the company’s annual report.

The figures show that Mr Kennedy was paid a total of €1.393 million last year in salary, bonuses and pension, slightly ahead of the €1.334 million he earned in 2007.

Fellow executive Breon Corcoran earned €819,000 last year, compared to €704,000 in 2007. Finance director Jack Massey was paid a total of €551,000, up from €488,000.

The listed bookmaker’s operating profits increased 5 per cent to €75.7 million last year. Earnings per share increased 10 per cent to 140.5 cents.