Telecom sale `a charade'

A CORK Fianna Fail deputy described the sale procedures for a share in Telecom Eireann as "a charade". They were designed, "to protect the Minister" rather than get good value, Mr Batt O'Keeffe said. Eight of the 10 players had withdrawn.

During Question Time, Mr O'Keeffe said the timescale, involved in the sale had been "prolonged, unproductive and not in the best interests of Telecom".

The Minister for Transport, Energy and Communications, Mr Lowry, said that type of comment from Fianna Fail was, simply "an attempt to undermine the process".

Two preliminary bids had been evaluated in accordance with predetermined criteria by his Department, the Department of Finance, Telecom and the advisers to the alliance process. On the basis of this evaluation the Government decided that both proposals be admitted to the second stage of the process which had started and involved detailed negotiations with both bidders, and any other parties which might join them in the consortium.

He was confident of a decision by the summer.