Ruairí Quinn
Ceist:28 Mr. Quinn asked the Minister for Public Enterprise her intentions regarding the level of shares in Telecom Éireann to be made available to the workers in Telecom. [14946/97]
Written Answers. - Telecom Éireann Shares.
As I pointed out in my reply to the priority question from Deputy Rabbitte, both the Government and the strategic partners in Telecom Éireann are prepared to make available up to 5 per cent of the company's equity from the State's shareholding in return for the conclusion and verified implementation of necessary restructuring and cost reductions and change within the company.
The Government is also open to practical and feasible proposals by the staff to bring their total shareholding in the company up to 14.9 per cent in return for cash payment to the Exchequer at a fair price when it is satisfied that this will assist the future development of the company and that the conditions relating to the initial 5 per cent are satisfactory. The sale to the employees of a shareholding above 5 per cent will require the consent of the strategic partner.