Buf­fett part­ner and New York VC fund back­ing broad­band

Irish Independent - Business Week - - TECHNOLOGY -

Mr McCourt re­leased by the Gov­ern­ment, depart­ment of­fi­cials were press­ing for “a per­ma­nent, Ir­ish-based, lead­er­ship po­si­tion” within the con­sor­tium, a need for “stream­lined de­ci­sion mak­ing pro­cesses” and the need for any changes within the con­sor­tium to be avoided “or, if nec­es­sary, to be kept to a min­i­mum”.

The of­fi­cials also pressed for “the need for the nec­es­sary fi­nanc­ing to be in place” by Au­gust 15. All of th­ese is­sues, Mr McCourt said, have been met.

Mr McCourt has also de­nied that busi­ness­man De­nis O’Brien is “part of the con­sor­tium”, say­ing that Mr O’Brien’s Ac­tavo firm was “merely a sub-con­trac­tor” and that he had not spo­ken to Mr O’Brien.

He also re­futed the claim that sell­ing his stake in Enet rep­re­sented any de­tach­ment from the Na­tional Broad­band Plan process on his part.

“There is no change in the con­sor­tium’s goals,” he said. “Grana­han McCourt was al­ways the lead en­tity in this con­sor­tium. We led the con­sor­tium since the pre-qual­i­fi­ca­tion ques­tion­naire was sub­mit­ted in March 2016 and as we are now look­ing ahead to de­liv­er­ing the NBP, and in or­der to fully com­mit our time, en­ergy and re­sources to this am­bi­tious project, we have taken the de­ci­sion to sell our re­main­ing stake in Enet.

“I have long be­lieved that the pro­vi­sion of world-class con­nec­tiv­ity needs to be viewed as a vi­tal util­ity and Enet con­tin­ues to play a sig­nif­i­cant role in solv­ing this prob­lem for many cit­i­zens across the coun­try. I have been proud to have been part of the com­pany’s own­er­ship struc­ture and wish the team a suc­cess­ful fu­ture.”

The IIF is man­aged by AMP Cap­i­tal and

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