THE Irish people had not been invited to participate, through the likes of pension funds and credit union savings, in the current investment in Telecom Eireann, because what the State communications body really needed was the expertise being provided by its new overseas partners, the Minister of State for Communications, Mr Emmet Stagg, told the Seanad.
"We did not want the money and Telecom Eireann did not need it. What it needed was the expertise which came with the money," he said.
The Bill to enable Telecom to enter a strategic alliance with the KPN/Telia consortium passed the second stage by 21 votes to 16.
A number of senators, on both sides of the House, queried why the Irish people had not been given an opportunity to take part in the investment.