Sale of 80% stake in National Broadband Ireland to Spanish firm approved

Departing investors in the company set up to deliver broadband to rural Ireland stand to make a return of more than 25 per cent

David McCourt, the entreprenuer leading the rural broadband project. Picture:

Asterion, a Spanish infrastructure investor, has been given ministerial approval to proceed with the acquisition of an 80 per cent stake in National Broadband Ireland (NBI).

Ossian Smyth, Minister of State with responsibility for communications, yesterday signed off on the proposed sale which was first announced earlier this year, clearing the way for the deal to close imminently.

Asterion Industrial Partners, a Spanish investment firm, agreed in July to buy 80 per cent of National ...