Eircom would like 200m please

crawler

Might not be a bad idea if the 200m was invested in NGN with open access for all and a state owner....it should not be allowed to prop up a balance sheet.


http://www.irishtimes.com/newspaper/finance/2009/0307/1224242448509.html


EIRCOM HAS told other telecoms operators and the Communications Regulator (ComReg) it will have to invest €200 million in its network if it is to meet new targets for reducing the number of faults on its network.

From June next, Eircom is obliged to meet new targets which will reduce the number of faults on the telephone network and set more stringent repair targets.

Under EU telecoms regulation, ComReg will be able to go to the High Court to seek financial penalties if Eircom misses the targets.

It is unclear whether Eircom will be able to invest €200 million over the next three years given the ongoing credit crunch, the recent rapid deterioration in its finances and its large debts.

The telco currently has a debt burden of over €3.7 billion.

Sponge Bob

and BCM is returning AU$100m + to its shareholders next week that was pulled out of eircom . The unions parasitic organism paid at least €70m to ESOP members last november

Let them all eat cake. If that network crumbles then arrest the various eircom directors for dereliction and fraud !!

ninjasurfer1

Sponge Bob wrote: »

If that network crumbles then arrest the various eircom directors for dereliction and fraud !!

Would it be legal to arrest and bring them to court?
Given that eircom is a private company, would the govt have any right to arrest anyone?(even if it collapsed in the morning).
After all, Private sector businesses are failing daily now (albeit mainly without the massive fallout eircom collapsing would have for the country).

crawler

Sponge Bob wrote: »

and BCM is returning AU$100m + to its shareholders next week that was pulled out of eircom . The unions parasitic organism paid at least €70m to ESOP members last november

Let them all eat cake. If that network crumbles then arrest the various eircom directors for dereliction and fraud !!

To be fair SB, the return of capital was money BCM had raised previously but not spent - however they have decided not to invest it.

What I find odd is that if you read their results they say that eircom does not need and has not asked for funding. Something, somewhere does not add up.

http://www.babcockbrowncapital.com/media/407412/bcm%20114%20pages.pdf

Page 14 of the slide deck is interesting...maximizing value of eircom etc..

Interestingly though, this should cover the 200m requirement

"eircom’s capex spend of €197 million during the six months to 31 December
2008, equates to 24% of revenue being invested in eircom’s telecommunications
infrastructure versus €157 million cash spend during the previous corresponding
period (19% of revenue). eircom’s cash balance of €285 million ensures that the
company remains in a strong cash position"

bealtine

crawler wrote: »

http://www.babcockbrowncapital.com/media/407412/bcm%20114%20pages.pdf

This caught my eye:

Line Shares
• ComReg set aside its decision to reduce monthly rental to €2.94 in August 2008, leaving monthly line rental at €8.41
• ComReg issued new Draft Decision on 23 December 2008 proposing to reduce monthly price to €0.75
• Final decision expected in second quarter 2009

LLU

• ComReg conducting review of current €16.43 price per month; intended to be completed by November 2008, however has been delayed and any revised pricing only likely to be proposed in second quarter of 2009

Bundling
• ComReg has not concluded consultation on regulated products in bundles but recent ruling against eircom re
Talktime broadband bundles
• eircom will respond