The proposed buyout of Skype, the internet telephony giant, is in danger. The original founders have begun to seek an injunction against the deal, working hard to prevent it from ever coming to bear.
The injunction specifically targets Index Ventures and Mike Volpi, claiming that Volpi has access to restricted code that could be used in an end run around Joltid. This is in their eyes both an IP issue, and a revenue disaster.
In essence, the injunction would act as a block, banning both Index or Volpi to take part in the buyout of Skype. This would be perhaps enough to derail the whole deal. Ebay will of course not be taking this sitting down, and will combat the injunction.
Even with a full assault from Ebay, it seems that Zennström and Friis have a full axe to grind and are on a take no prisoners route to block the deal.
Recall that they still own the technology that actually makes Skype tick, and collect fees for that. As always, follow the money. If the injunction does not stick, we will most likely see a second attempt by the pair to break the deal. They are not going down without a fight, not with tens of millions of dollars at stake.
With all the weight that an international juggernaut like Ebay comes with, and all the assorted investors’ force that their billions bring, can two men stand in the way?
