asked the Minister for Communications if he has approved a proposal by RTE Relays to take over an existing relay firm in Dublin; the cost of the takeover bid; and the method of providing finance for the proposal.
Written Answers. - RTE Relays.
RTE have conducted negotiations for the purchase of a majority interest in Dublin Cablesystems Ltd. subject to my approval for the transfer of licences involved and to the sanction of the Minister for Industry, Trade, Commerce and Tourism under the Mergers, Take-overs and Monopolies (Control) Act, 1978. My approval has been sought and I am considering the position.
As the proposed transaction is a commercial one, it would be inappropriate to give details of the financial arrangements; however, RTE propose to finance the transaction without recourse to broadcasting funds or borrowing.