More than €18bn already spent on broadband plan; Artyza faces showdown
Seen and Heard: State set is to examine reputational risk over ‘cash-for-visas’ scheme
Irish bookie Boylesports has reportedly warned staff that a measure included in the budget could threatens jobs
The State has already spent more than €18 million on consultants’ fees for the troubled National Broadband Plan, according to the Sunday Times.
On a related note, the Sunday Business Post reports that pressure is growing for an investigation into a second deal between the State and Enet, the Limerick-based telecoms group which is part of the consortium bidding for the Government’s national broadband plan.
Aer Lingus warned
The Post also says that Aer Lingus and its parent company IAG have been warned by the British competition watchdog that they could be fined if they don’t comply with undertakings given for a leasing agreement with Cityjet.
According to the same newspaper, the State is to examine risks to its reputation arising from is so-called “cash-for-visas” scheme.
Both the Post and the Sunday Times carry news about troubled Swiss-Irish food group Arytza. The Post says the largest investor in the company is upping its stake ahead of a planned showdown on Arytza’s plans to raise €800 million. The Sunday Times meanwhile adds that Aryzta is facing a €50 million fee linked to the rights issue.
Separately, the Sunday Times says accounting changes have artificially boosted corporation tax receipts by €700 million but will have a negative effect on future tax collections.
Ballymore in London
The publication also reports that Sean Mulryan’s Ballymore Group has put its Embassy Gardens project in London on the market for €182 million.
Newswhip debt fund
Elsewhere, the newspaper claims that data analytics company Newswhip has agreed a multimillion euro debt fund deal.
Irish Distillers investment
The Sunday Independent leads with news that Irish Distillers is to invest about €150 million in its whiskey sites in Ireland.
It also reports that Irish bookie Boylesports has warned staff that a measure included in the budget on staff tax threatens jobs.
The same newspaper adds that a reported plan by developer Paddy McKillen Jr to revamp the headquarters of New Ireland Assurance on Dawson Street, faces planning challenges.
First Derivatives report
Lastly, the Sunday Independent reports that Newry-headquartered fintech First Derivatives has caught the eye of British short seller Shadowfall, which recently issued a critical note on the company. The Business Post carries a similar report, indicating that the report is the reason for a sharp fall in the NI-firm’s share price.
The Sunday Telegraph claims troubled Patisserie Valerie’s management snubbed a £30 million deal that would have protected small investors.