Tuesday, 1 October 2019

Questions (460)

Richard Boyd Barrett

Question:

460. Deputy Richard Boyd Barrett asked the Minister for Communications, Climate Action and Environment if, prior to the privatisation of a company (details supplied), two financial reports or audits were produced which showed significantly different financial positions; and if copies of both will be provided; and if he will make a statement on the matter. [39420/19]

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Written answers (Question to Communications)

In July 1998, with the agreement of the Minister for Finance, Merrill Lynch and AIB Capital Markets were appointed by the then Minister for Public Enterprise as integrated financial advisers, to provide advice and assistance to the Government on all aspects of the flotation of shares owned by the State in Telecom Éireann. Having checked accessible records in my Department, no financial reports or audits carried out by the companies referred to in the question prior to the Initial Public Offering have been located by officials. Given the significant volume of records held in off-site archived storage in relation to the IPO, it has not proved possible to access and examine all records within the time available to respond to this question.