asked the Minister for Industry and Commerce whether it would be appropriate to have the acquisition of Cablelink referred for examination under fair trading rules in certain circumstances.
Ceisteanna-Questions. Oral Answers. - Acquisition of Cablelink.
24.
The Mergers, Take-overs and Monopolies (Control) Act, 1978, as amended, requires the enterprises involved in a proposed merger or take-over which comes within the scope of the Act, to notify me as soon as may be. Upon receipt of a notification and after examination of the proposal, I can approve a proposal, without reference to the Fair Trade Commission, or refer it to the commission for investigation in relation to the scheduled criteria in the Act.
The criteria cover matters of competition, continuity of supplies or services, employment, national policy for regional development, Government policy relating to rationalisation of the operations in the industry or business concerned, any benefits likely to be derived from the proposed take-over or merger, interests of shareholders and employees, and interests of the consumer.
To date no proposal relating to the acquisition of Cablelink has been notified to me in accordance with the Act. Until I have received such a notification and had an opportunity to fully examine such a proposal, I cannot comment on whether I would refer it to the fair Trade Commission for investigation.
Would the Minister interpret the Schedule which he read out as requiring a case involving the purchase of this company either by a monopoly or by an international conglomerate as one that would be appropriate for examination?
I would not like to pre-judge. I will wait until I get a proposal. I have nothing before me at this stage, and I would not like to answer a hypothetical question.