O’Brien as­so­ciate ap­pointed head of NBP bid­der Enet

The Irish Times - Business - - BUSINESS - EOIN BURKE-KENNEDY

A long-time as­so­ciate of busi­ness­man De­nis O’Brien has been ap­pointed as the new chief ex­ec­u­tive of Enet, the Lim­er­ick-based tele­coms group which is part of the con­sor­tium bid­ding for the Gov­ern­ment’s Na­tional Broad­band Plan (NBP).

Pe­ter Mc­Carthy, a for­mer se­nior ex­ec­u­tive at Mr O’Brien’s en­gi­neer­ing ser­vices group Ac­tavo, re­places Enet’s Bart­ley McEl­roy, who has only been in the top job for sev­eral months.

Mr Mc­Carthy’s as­so­ci­a­tion with Mr O’Brien stretches back to 1997 when he worked as the head of pro­cure­ment for Esat, the tele­coms firm that Mr O’Brien set up in the early 1990s. Mr Mc­Carthy also worked for a time as a com­mer­cial direc­tor for Mr O’Brien’s tele­coms group Dig­i­cel. Re­cently he has worked as a con­sul­tant, with clients in­clud­ing Dig­i­cel.

An Enet spokesman con­firmed Mr Mc­Carthy’s ap­point­ment. The com­pany, which op­er­ates the State’s Met­ro­pol­i­tan Area Net­works and sev­eral smaller broad­band net­works, is ex­pected to make a for­mal an­nounce­ment in the com­ing days.

Enet is now fully owned by the State-backed Ir­ish In­fra­struc­ture Fund (IIF), which an­nounced this week that it had ac­quired the re­main­ing 22 per cent stake in the com­pany from US in­vest­ment fund Grana­han McCourt.

The IIF had ac­quired 78 per cent of Enet in Au­gust 2017 in a deal that val­ued the com­pany at up to €200 mil­lion.

Ear­lier this year Enet was left in pole po­si­tion to win the Gov­ern­ment’s NBP con­tract, said to be worth over €500 mil­lion, fol­low­ing the sur­prise ex­its of Eir and ESB-Voda­fone joint ven­ture Siro. The pro­cure­ment process is on­go­ing.

The com­pany’s bid for the State-sub­sidised scheme has sub­se­quently been taken over by its for­mer backer Grana­han McCourt.

How­ever, Enet and Mr O’Brien’s Ac­tavo are still listed as “key part­ners” to the bid.

UK heavy­weights SSE and John Laing have re­cently ex­ited the con­sor­tium de­spite be­ing brought in by Enet last year to shore up its bid.

Newspapers in English

Newspapers from Ireland

© PressReader. All rights reserved.