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Glodman Sachs errs on Eircom's nationality

Mr_Man · 2004-08-22 17:50:18

According to the Business Section in the Irish Times yesterday It is easy to see how Goldman could mistake Eircom for an Irish company, I mean would the Irish people put up with what Eircom have been up to if they were an English company ? Putting the country a couple of years behind the rest of Europe in BB terms, and…

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22-08-2004 6:50pm

#1

Mr_Man

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Join Date: April 2003

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According to the Business Section in the Irish Times yesterday

Glodman Sachs, the investment bank which led the €1.25 bn re-floatation of Eircom in March has acknowledged it made an embarrassing error over the company's nationality.

Goldman issued a statement to the stock exchange yesterday stating it had an interest in 44.3m Eircom shares last March. It said that it had not notified its interest in the shares earlier because it thought Eircom was an Irish company, when in fact it is registered in England.

....

The ownership of Eircom was transferred to a UK shelf company in July 2003 as part of a financial restructuring.

It is easy to see how Goldman could mistake Eircom for an Irish company, I mean would the Irish people put up with what Eircom have been up to if they were an English company ?

Putting the country a couple of years behind the rest of Europe in BB terms, and having the highest line rental, with the lowest level of service in Europe are just two examples.

M.

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