By Harry Keaney
Esat Telecom has stolen a march on Telecom Éireann and gone for a listing in the Irish Stock Exchange this week — just ahead of it’s archrival.
Denis O’Brien, chairman and chief executive, denied the Esat move to go for a listing and become the first ISEQ telecommunications company was a spoiler tactic for the Telecom Éireann launch on July 8.
"Absolutely not. We said two years ago we were going to list on the Dublin Stock Exchange. We have been having ongoing conversations on and off for nearly 24 months with the Irish Stock Exchange and basically now is the best time to do that," he said.
O’Brien added that Esat wanted to expand its investor base and bring in Irish and other European retail and institutional investors.