31.10.2016 - Why is Ireland's sovereign wealth fund not putting money into our telecoms infrastructure?
Who would want to invest in an Irish utility right now? Well, Anchorage Capital, for one. Last week, Anchorage, an Australian hedge fund, took control of Eir. It already held 36 per cent of Eir’s shares and controlled as much as 49 per cent of its voting rights, but last week it was placed firmly in the driving seat when York Capital announced that it was selling off its 9.8 per cent holding. That holding would be divided up between Anchorage, Singapore’s sovereign wealth fund GIC (which owns 16.3 per cent) and hedge fund Davidson Kempner (which owns 11.8 per cent). The deal means that Eir, formerly Eircom, formerly Telecom Eireann, has now had eight controlling shareholders in the past 18 years............................................Full Article: Source