The newly undead Smurfit will be harder to kill this time, sources said, thanks to industry consolidation.

Unless of course interest rates go up and the company's Euro4.5Bn debt load starts to look heavier.

SLAINTE Guinness maker Diageo plc reported mixed results during the week that were held back by weaker beer sales in Europe and adverse currency rates coming out of the US. But it was hardly the bloodbath most domestic headlines would lead you to believe - the company was still flush enough with profit to pursue a Euro1.5Bn share buyback programme.

And it might yet be a bidder for Absolut later this year.

TOTAL CONTROL Denis O'Brien moved to consolidate his control of his Caribbean mobile operator Digicel by raising $1.4Bn in debt in order to gain 100% control. Effectively it means that plans for an IPO are put on hold at the moment -- also that O'Brien would not be entering the US market as a mobile virtual network operator.

BIG TWO? General Motors may purchase its ailing Detroit rival Chrysler from German parent DaimlerChrysler, according to reports on Friday. It would be the biggest shakeup in the US auto industry in a generation and a sign that those annoying Dodge Caliber radio ads might stop.