Wednesday October 21, 2020

Quinn waives €5m interest on Smart loan

Millionaire businessman Sean Quinn has waived a €5 million interest bill arising from a loan he provided to Smart Telecom.

17th June, 2006

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loan part-funded the company’s upfront payment for the third-generation (3G) mobile licence that was controversially withdrawn earlier this year.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...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader



Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

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



€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.




90 Day Pass

You can cancel any time.

2 Yearly



Unlimited Access for 2 Years

This product does not auto-renew

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 | 9 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 | 5 years ago