Valentia, TOR & DoPE proposals...

dahamsta

In the papers, courtesy of ENN:

The Irish Times reports that Valentia Telecommunications has blocked the release of details about the tax changes made by the Minister for Finance to facilitate its takeover of Eircom. The backlog of files currently being reviewed by the Information Commissioner means that it could be months or years before a decision is reached on the appeal. The company then has the option of going to court to stop the release of the files. Valentia needed a number of unspecified changes made to the tax laws in order to allow the Eircom Employee Share Ownership Trust to become a member of the consortium.

Another example of Irish Government kowtowing to corporations with no absolutely no oversight. Roll on the tribunals...

The Sunday Times reports that Tony O'Reilly has given the Tanaiste, Mary Harney, his personal assurance that he will avoid any meetings off the boards of Eircom and Independent News & Media that deal with the cable company Chorus. The assurances comes as a result of concerns that O'Reilly, the chairman of Independent News & Media (which has a 50 percent stake in Chorus), may have too much influence in Ireland's media market. O'Reilly's Valentia consortium is expected to take control of Eircom in the coming months and Chorus is positioned to be a competitor to Eircom in the future.

And of course we all believe him, don't we? Tony O'Reilly OUT!

The Sunday Tribune reports that close to IEP200 million in investment proposals to develop regional telecommunications infrastructure were received by the Department of Enterprise. It is understood that IEP40 million was for an Eircom DSL project based around IDA prioritised towns.

Laugh? I nearly did.

adam

SkepticOne

"It is understood that IEP40 million was for an Eircom DSL project based around IDA prioritised towns."

As outlined in the application document: 1.5.2 Commercial DSL Rollout

This programme line is aimed at addressing geographical deficits in the availability of DSL services,...

It is shocking in this day and age that some areas of Ireland still do not have DSL.

Article in The Irish Times.

The backlog of files currently being reviewed by the commissioner means that it could be months or years before a decision is reached on the appeal. The company then has the option of going to court to stop the release of the files.

Great. All you have to do is appeal and the information is delayed for years, even if you don't have much of a case. So much for the Freedom of Information Act. Any other secret laws and tax changes out there?

But why was this information not revealed anyway by the Dept. of Finance? Can they change tax regulations without informing the public?

On the competition issue:

A spokesman for Valentia declined to comment on reports that Sir Anthony has volunteered to exclude himself from any discussions at board level involving Chorus.

Yes, and in no way will the MD of Chorus be worried about directly competing with his boss' major financial interests.

ElNino

Department Of Public Enterprise


I wonder who chose those initials?:)

SkepticOne

Article here.

A number of cabinet members have been warned of the potentially dire consequences if the bid is referred to the Competition Authority. Should the deal fail to go ahead, analysts suggest Eircom's share price could be halved from its current ?1.34 level. With an election expected next spring many government members are fully aware of the potential political consequences should 500,000 Eircom shareholders find their shares have halved in value.

Shocking prospect!

Sources close to Harney, however, say that no political considerations will affect the tanaiste's decision. Harney is also seen as one of the most difficult politicians to lobby.

Is it just me, or is the amount of BS we are supposed to swallow on the increase?