Seamus Brennan
Question:186 Mr. S. Brennan asked the Minister for Transport, Energy and Communications his policy in regard to the future ownership of Telecom Éireann. [3789/95]
Written Answers - Telecom Éireann Ownership.
The Government's policy in relation to public enterprise in general is set out in full in paragraphs 20 to 25 of the document A Government of Renewal. In the context of that policy, the statement on ownership at paragraph 21 is:
State assets will not be sold except where it protects employment and is in the long term strategic interest of the company and its stakeholders. Any resources released as a result will be used for job creation. We will retain majority State ownership in these companies. Opportunities for expansion to utilise the bank of skills in these companies will be encouraged.
The question of a strategic partner for Telecom Éireann is a central part of the agenda for 1995 but it is too early to say what form this will take and in particular whether it will take the form of an equity based joint venture.
It is well known at this stage that one party tabled an offer in relation to Telecom Éireann in the first half of 1994 and that this gave rise to a process seeking to identify other potentially interested parties. This process is still under way.
I believe that it would be highly desirable to settle this question during the current calendar year.