Eir has ‘no comment’ on reports of new investors

9 Jun 2016

Eir has declined to comment on reports that new investors in the company include the Qatar sovereign investment fund

Eir has said it has “no comment” to make about reports claiming that the sovereign wealth fund of the oil-rich country of Qatar is making an investment in the company.

It was reported this morning that a hedge fund that owns a stake in Eir called York Capital is selling its 15pc stake in the incumbent telecoms operator to the Qatar Investment Authority.

“No comment,” was Eir’s response to questions on the matter.

The Irish Times reported that Eir’s largest shareholder Anchorage will remain its largest shareholder with a 38pc stake in the company.

Eir is tipped for an IPO in the next two years.

Earlier this week, the company replaced a €350m bond facility it entered into in 2013 with a new bond of €500m with a lower interest rate and a €150m credit facility.

Eir has said it will reach 1.7m premises in Ireland with high-speed broadband by the end of this year.

Doha image via Shutterstock

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years