O Brien Back in the Running For Eircom

LegacyUser

http://www.ireland.com/newspaper/finance/2001/0713/fin1.htm

i seriously hope he gets it, for the simple reason, he will have half the debt and cost cutting wont be as big, ie on broadband

dahamsta

This is the killer bid now. If Comsource rejects it, there has to be questions asked about their allegiance to the current board, and more particularly their own shareholders. If ESOT reject it, it will show that they're just being selfish - I can understand their reservations, but the simple fact remains that Eircom is overstaffed and quite often incorrectly staffed. And if Eircom reject it, it will demonstrate that it really is a matter of sour grapes V common sense. It'll show them up for the foot-stamping children that they really are.

Once again, I have my fingers crossed for Denis, but if he crosses me I may very well go postal...

adam

LegacyUser

O Brien is smart, they can reject the offer, they will get their ass sued left right and centre, they a have a legal obligation to share holders to support this, and as its a full cash offer, their wont be any of this *well if y ou lokk at the cert this way and that way their worth more or less* that what done him out the first time, hes finished playing games,
Anto hasnt got the money or backing to beat that offer, and if he did its unlikely the eu would allow the deal, its owuld mean close to 5 billion in debt on a company worth 2 billion. no a good sign.

allso good for adsl, as while the network here is the best in ireland, without upgrades and adsl, to european investers we it will look a third rate telecom

dahamsta

Yes, O'Brien is smart, so he also knows that if Eircom reject the offer and he sues, the case will go on for years and although he may eventually get control of Eircom it will be too late to spark the innovation required to make Eircom profitable. Eircom can be made profitable, but it has to happen *now*.

adam

dahamsta

Actually, profitable is the wrong word, but you get the idea.

adam

LegacyUser

well o brien ould sue and alot of hte smaller share holders would sue,

they wouldnt be sueing eircom but the directors of eircom, theres a big difference between sueing a company and sueing a person

dahamsta

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[This message has been edited by dahamsta (edited 13-07-2001).]

dahamsta

Yeah, the directors of Eircom are really likely to wrap it up fast. Have you seen how long some of the defamation cases have lasted?

adam

LegacyUser

what im saying is, that its their heads on the line, nobody is going to walk into a situation that will lead them to be sued, especialy(even after 1-2 years) they have a high chance of looseing.

be all know them to be *******s, but they are that way for a reason, they are smart people(greedy and backwards) but smart, they are not going to go out on a line to protect eircom because after its sold they will have little to do with it,