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Secret talks with Eircom/singtel/partial government buyback

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  • 22-07-2009 2:08am
    #1
    imeddyhobbs
    Closed Accounts Posts: 1,026 ✭✭✭


    Yes it's almost true.

    A Singapore based company is ready to takeover eircom on the basis that the Irish government in essence buys back some of the company it previously sold.The Irish government invested heavily in broadband infrastructure with tax payers money in metropolitan area networks,a lot of which are not lit up.Who was it that said the people get what the want but not not what they get?We the taxpayer are about to put money into another private company pretty soon,Eircom is about to be donated millions by Eamon Ryan minister for communications for failed company AKA Eircom just so that Singtel might make a profit.

    This is all about to happen in the name of infrastructure


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    #2
    AlmightyCushion
    Moderators, Education Moderators, Technology & Internet Moderators Posts: 35,078 Mod ✭✭✭✭AlmightyCushion


    I really hope this isn't true or doesn't happen. The money we'd invest in eircom would be much better invested in more projects like the mans.


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    #3
    imeddyhobbs
    Closed Accounts Posts: 1,026 ✭✭✭imeddyhobbs


    Its a horror story lads but not as we know it.

    There is no democracy anymore,get used to it.


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    #4
    imeddyhobbs
    Closed Accounts Posts: 1,026 ✭✭✭imeddyhobbs


    AlmightyCushion wrote: »
    I really hope this isn't true or doesn't happen. The money we'd invest in eircom would be much better invested in more projects like the mans.

    Stage 2 of the MANS was a failure,what is it about stage 3 that interests you?


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    #5
    watty
    Registered Users Posts: 32,417 ✭✭✭✭watty


    You could build TWO FTTH networks for the value of Eircom's Debt and other obligations. No-one connected with eircom should get a cent from Taxpayer or EU


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    #6
    Cabaal
    Moderators, Technology & Internet Moderators, Regional South East Moderators Posts: 28,496 Mod ✭✭✭✭Cabaal


    imeddyhobbs, any thing to backup what your postiong?
    news stories etc?


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    #7
    who is this
    Registered Users Posts: 500 ✭✭✭who is this


    Why does eircom need to be rescued?

    Surely it's far more economical to allow it to file for insolvency and let some other company salvage the assets from the wreck.

    The main people to lose out would be ex-Babcock&Brown shareholders. I'm guessing most are Australian=Not our problem.

    Personally I don't mind another telecoms company buying it (hopefully for keeps!) but I do mind a Singaporean one doing it: they're on the other side of the world! I'd much rather if France Télécom or Deutsche Telekom bought it.


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    #8
    Calebmcd
    Registered Users Posts: 363 ✭✭Calebmcd


    Or BT


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    #9
    watty
    Registered Users Posts: 32,417 ✭✭✭✭watty


    They are not stupid. Why take on €5B in debt for €1.5B in assets? (2/3rd of which is Meteor)


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    #10
    who is this
    Registered Users Posts: 500 ✭✭✭who is this


    Watty, not sure if that was a response to my post, but if it was (even if it wasn't, to clarify: ) by "buy it" I mean, let it become insolvent and then buy the assets. Not the actual company.

    Stupid indeed.


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    #11
    who is this
    Registered Users Posts: 500 ✭✭✭who is this


    Calebmcd wrote: »
    Or BT

    Yes BT would be desirable but I doubt they'd be allowed. The second largest telecoms operator buying the largest? Competition issues would almost certainly arise.


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    #12
    Slutmonkey57b
    Registered Users Posts: 5,560 ✭✭✭Slutmonkey57b


    Yeah, it would be a pity to lose out on all that great competition we have in the marketplace.


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    #13
    Epeen
    Closed Accounts Posts: 93 ✭✭Epeen


    Yes BT would be desirable but I doubt they'd be allowed. The second largest telecoms operator buying the largest? Competition issues would almost certainly arise.

    Like the issues that arose from one **** company owning all the lines and exchanges

    Oh wait.. :pac:


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