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Net2Phone belongs with MySpace- but IDT may go to the mat - ZDNet

While we could act as a stockholder of Net2Phone and eliminate the provision in Net2Phone’s bylaws that requires a majority of Net2Phone’s disinterested directors to approve a merger with IDT, this May be insufficient as a majority of the Net2Phone Board could still oppose such a merger and it could take time before we could elect a majority of directors whom we believe would be in favor of such a merger (subject to the exercise of their fiduciary duties). Also, the settlement that we have negotiated with the plaintiffs in the pending stockholder litigation only applies to the Offer and a short-form merger and would not apply to a long-form merger. In any of these circumstances, we will explore all options available for the purpose of consummating the backend merger and May in the future pursue options that are different than or in addition to those set forth in the Offer to Purchase in order to effect the Merger. However, at the present time we are not considering any options other than those set forth in the Offer to Purchase.

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