Morning Edition: Tumbling telecoms shares and vanishing e-tailers

NEWS The paper points to Deutsche Telekom's attempted takeover of US wireless operator, Voicestream. A deal already troubled by regulatory issues now looks in peril because shares in Deutsche Telekom are falling towards a level that would force it to renegotiate terms. Meanwhile Spanish ISP, Terra Networks has seen its share price tumble 40 per cent in the past week, casting a big shadow over its prospective purchase of Lycos. More bad news - the demise of Urbanfetch.com's consumer e-delivery operation - is covered in most of this morning's papers. Coming a day after online CD retailer Boxman announced it is to file for liquidation, the The Guardian described Urbanfetch's UK pull-out as a "fresh blow to the fragile business-to-consumer sector". The savvy net consumer has until the end of next week to place an order at http://www.urbanfetch.co.uk, which is offering reductions of up to 40 per cent in an effort to clear stocks. The Telegraph reports that high-street chemist Boots and Granada Media
are working on a healthcare TV channel to be carried on Granada's Ondigital. It will have a companion website advertising 'cures' to the ailments featured on any given show. Those 'cures' are, of course, available at your local Boots chemist. Finally, the Guardian returns to the stock market with news that FTSE has plans to launch an index to house "fashionable" technology, media and telecommunications stocks. The index, FTSE TMT, will be launched on Monday and is likely to feature 36 big name players.