Phil Hogan
Ceist:55 Mr. Hogan asked the Minister for Public Enterprise the basis on which the Government selected the share price for the initial public offering in Telecom Éireann. [20831/99]
Written Answers. - Telecom Éireann Flotation.
The decision on the setting of the share price was made by the Cabinet sub-committee dealing with the initial public offer based on the advice of the joint global co-ordinators, Merrill Lynch and Allied Irish Banks Capital Markets and others. The Cabinet sub-committee was comprised of the Taoiseach, Tánaiste and Minister for Enterprise, Trade and Employment, Minister for Finance and myself.
As the Deputy is no doubt aware, the discussions that took place at the Cabinet sub-committee are subject to Cabinet confidentiality.