Question:
50 Dr. Upton asked the Minister for Public Enterprise if she will provide an up-date on the sale of Cablelink; and if she will make a statement on the matter. [4636/99]
Written Answers. - Cablelink Sale.
The full disposal of Cablelink, which is owned by Telecom Éireann and RTE, is being pursued through a trade sale process. An information memorandum, which outlines Cablelink's existing businesses, plans for its future development. The current regulatory environment and a financial overview, have been sent to over 30 potential bidders who had previously expressed an interest in the company. They have signed confidentiality agreements and have been given a deadline of 10 March for submission of indicative offers.
A small number of bidders will then be selected to proceed to the final stage of the process and be asked to submit their final offer for the company. A preferred purchaser will then be selected with whom negotiations will proceed to conclude a sale of the company. The sale process, subject to final regulatory approvals, is expected to be completed by late May 1999.