A Clare Government Senator is urging National Broadband Ireland to publish details of its share sale to a Spanish investor.
The company’s majority owners have agreed to sell their 80 percent stake to Asterion Industrial Partners – an investment firm based in Madrid.
The value of the deal hasn’t been disclosed, and it remains subject to government approval.
Fianna Fail Senator Timmy Dooley, says National Broadband Ireland needs to explain the situation to the taxpayer:
“There must be full transparency around any change of ownership that is proposed for National Broadband Ireland.
“We’re told today that the majority owners of NBI have notified the Minister of their intention to sell an 80% stake in the company to Asterion Industrial Partners.
“This is a public contract to provide a vital service in the state. The public must be made fully aware of the return the initial investors are scheduled to get from this deal and what they have invested to this point.
“We know NBI has already been hit with penalties for missing targets and any change of ownership must not affect the rollout of the National Broadband Plan”.
