The loan part-funded the company’s upfront payment for the third-generation (3G) mobile licence that was controversially withdrawn earlier this year.
Quinn lent €28 million to Smart last November after the niche broadband and fixed-line operator caused a major upset by beating Eircom to land the lucrative licence.
The money, together with a €28 million loan that was underwritten by Kingspan director and Smart shareholder Brendan Murtagh, was used to secure the licence from...
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