State makes loss on $1m investment in Digicel

7th July, 2019

The state has recorded a loss on a near $1 million investment in bonds issued by Denis O’Brien’s Caribbean mobile phone company Digicel.

The state invested $970,000 in Digicel bonds in 2017, through the Irish Strategic Investment Fund (Isif). However, the price of the bonds fell, resulting in the Isif reducing its valuation from €800,000 at the end of 2017 to €780,000 at the end of last year.

The state’s holding in the bond, due...

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