Tuesday October 27, 2020

The Inquisitor: Siteserv sale is about more than just price

The Siteserv deal is a good one for its shareholders and Denis O'Brien, but it's not great for Irish taxpayers, writes Richard Curran.

7th April, 2012
2
'Siteserv was a boom-time play, co-founded by financier Niall McFadden, who specialised in boom-time plays.'

A former chief executive of a large Irish plc once told me a story about how he once kept phoning the chief executive of a small British company to make an offer to buy it.

The Irish guy knew the British business was effectively on the market and he was interested. Eventually, after a couple of calls, the British guy said to him, "why don't you guys just go away. You're wrecking my MBO." That...

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