Wednesday April 8, 2020

A tale of mistakes and unfortunate coincidences

Although Eircom has been heading towards examinership since 2006, no single factor can be blamed for putting it on that road, writes Richard Curran.

31st March, 2012
2
At the launch of the Telecom Eireann share offer in St Stephen's Green in Dublin in 1999 were Charlie McCreevy, Bertie Ahern, Mary O'Rourke, Ray MacSharry and Alfie Kane. Photo: Photocall

Eircom has been stumbling towards insolvency since it was taken over in 2006 by an Australian private equity fund, run by Babcock & Brown. The near-inevitable appearance by the company's lawyers in the Dublin High Court last week seeking examinership has been in the script for a long time.

No company can defy the laws of financial gravity, no matter how heavily engineered its balance sheet may be. Eircom has suffered from a decade-long decline characterised...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The best writing and and the biggest stories of 2019 from the Business Post

Richie Oakley | 3 months ago

Denis O’Brien is back in court, residents continue to fight the Council on halting site and a row surfaces in government over rent control proposals

Leanna Byrne | 4 years ago