Renowned risk-taker unlikely to be satisfied with having `some craic'

Best known for setting up Esat Telecom in 1991, for winning the second Irish mobile phone licence in 1995 and for his involvement in the Dublin independent radio station, 98 FM, Denis O'Brien is a shrewd entrepreneur.

Won through tenacity, courage and the shrewd assessment of emerging opportunities, his business successes have ensured that he is now a now a multi-millionaire. The BT bid for Esat values his stake in the company at £221 million (€280.61 million). Adding share options granted in November (which, if exercised as expected, would generate a profit of about £10 million) brings the value of his holding to £231 million. As recently as a month or so ago, that stake was worth just £180 million. Setting up and developing Esat Telecom was a major achievement for Mr O'Brien, who had to fight hard to break into a market which was not then deregulated.

He started by aggressively targeting the corporate market, which was the first to be deregulated. He made complaints to the EU about the then monopoly supplier Telecom Eireann (Eircom) and exploited the law to his advantage where possible. Now 41 years old and married, with his first child due imminently, Mr O'Brien could choose to sit back and enjoy the fruits of his success. He told yesterday's press conference that he now wants to pursue happiness and have "some craic". One option would be to make more use of a major golf property at Quinta do Lago in Portugal, bought for £25 million in 1998.

But friends and business associates say that the "ideas man" and "doer" will find it difficult to cut back his business activities. Under the bid terms, Mr O'Brien will be non-executive chairman of the Esat group for two years. However, he is already developing new business interests, principally in the energy sector, where he is a major shareholder in ePower - a new company which, like Esat Telecom , will pose a threat to current operators.

Once a personal assistant to GPA founder Mr Tony Ryan, Mr O'Brien has always surrounded himself with a strong team of financial and legal advisers. Probably his greatest coup was winning the second mobile phone licence in 1995 for East Digifone. Colleagues who have been with him from the beginning at Esat have been rewarded with share options which will turn many of them into multi-millionaires.

Mr O'Brien is primarily a risk-taker, whether in business or in sport (skiing, golf and cross-country running all feature among his interests). According to a friend: "As long as there is a risk involved, Denis loves it."