Sunday March 29, 2020

Enet stake bidder claims it was used as a ‘stalking horse’

Investment fund Cube sues over breach of trust in negotiations for €145 million stake in telecoms firm Enet

7th October, 2018
Minister for Communications Denis Naughten enjoys a joke with Stephen Wheeler, managing director of SSE Ireland and David C McCourt, chairman of Enet Andrew Downes

A multibillion-euro investment fund has claimed it was used as a “stalking horse” in a €145 million contest for a stake in Enet, the telecoms firm at the centre of a controversy over the rollout of rural broadband.

Cube Infrastructure, a Luxembourg-based investment fund, also claims its confidential information was secretly used to ‘expedite’ the ultimate sale of the stake to a state backed fund.

The stalking horse charge is contained...

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