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+ - Ireland's Former State Telco To Apply For Court Protection

Submitted by 2phar
2phar (137027) writes "A decade or so after what some regard as one of the world's worst failures in privatizing a state asset, the former Irish telecoms monopoly, Eircom, is finally facing Examinership to get court protection from its creditors. The company is struggling under some €5bn in debt, after undergoing multiple episodes of leveraged buyouts, asset-stripping, and under-investment. Since the sell-off, the state has also had to separately re-invest in building national infrastructure a second time through such projects as Metropolitan Area Networks"
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Ireland's Former State Telco To Apply For Court Protection

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... though his invention worked superbly -- his theory was a crock of sewage from beginning to end. -- Vernor Vinge, "The Peace War"

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