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Digicel Laid Bare

  • 21-05-2020 10:15am
    #1
    AmberGold
    Registered Users, Registered Users 2 Posts: 1,285 ✭✭✭


    Interesting article in today times on the woes of Digicel Investors and O'Briens role.

    Denis O’Brien, who extracted at least $1.9 billion (€1.7 billion) in dividends from his Digicel phone group between 2007 and 2015, promised bondholders in the highly-indebted company four years ago that he would hold off taking further dividend payments until business improved.

    Still, companies owned and linked to the businessman received almost $134 million of revenues, fees and expenses in the 3½ years through last September from the Jamaican-based group, new documents reveal.

    https://www.irishtimes.com/business/technology/denis-o-brien-forced-to-lift-hood-on-digicel-in-debt-restructuring-1.4258505


Comments

  • #2
    Ardillaun
    Registered Users Posts: 2,558 ✭✭✭Ardillaun


    The story has always been most peculiar, if I may venture to say as much. Perhaps some bean counters among us can shed light on what these new developments mean? It seems to me that the gruesome Digicel zombie will stagger on for some time to come. I would like to know who in the name of God ever invested in such a creature?


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