Minister launches review of national broadband contract
Investors in the NBP were allowed to cut their exposure to the project by having high-interest loans count towards their promised equity investment. The review will examine the ownership structure, equity transactions, high-cost loans and fees withdrawn by investors
The country’s multibillion euro national broadband plan has been placed under review to determine if its investors have complied with the contract terms by putting enough of their own money into the project.
The Business Post can reveal that the ownership structure, equity transactions, high-cost loans, and fees withdrawn from National Broadband Ireland will be scrutinised by government lawyers and accountants.
It comes as a series of recent revelations have raised concerns about the contract ...