Eircom’s management undergoes changes (Ireland)
www.WirelessFederation.com/news: A number of changes to the management has been announced by Irish telecoms group, Eircom whose mobile division CEO left the company. Larry Smith who worked for the company as a CEO after five and a half years living and working in Ireland has decided to return to the States.
Retail operations of Meteor and Eircom has been planned to be merged over the next few months, following a shake-up of the company. Besides, the number of business units will also be rationalised to focus on customer groups across both landline and mobile.
Stephen Beynon, former Virgin Media manager has been appointed group managing director of consumer and small business, encompassing both arms of the company. With the modernization and restructuring of the business, transition unit has been established.
Accoring to Mr Paul Donovan, CEO, Eircom Group, the company and its members would like to thanks Larry Smith for his tremendous contribution and for making Meteor the successful and dynamic brand it is today.
Eircom revenues drops in 2009 (Ireland)
www.WirelessFederation.com/news: 9% drop in group revenue for the second quarter and six months ended December 31, 2009 has been reported by Eircom. EUR933 million (USD1.26 billion) for the half-year period is the consolidated revenue and EBITDA has gone down 3% year-on-year at EUR327 million.
According to the operator, its operating costs for the period under review dipped 13% y-o-y however, to EUR606 million, largely as a result of a reduction in labor costs and other operating expenses. The workforce of the company has been trimmed by Eircom in 2009.
The number of high speed connections climbed to 691,000 by December 31, 2009, up 52,000 from 639,000 a year earlier. Of the total, 491,000 were retail DSL customers, up 34,000 in the same period.
Irish firm Eircom announces restructuring plans
www.WirelessFederation.com/news: Major reorganization including a shift in business focus towards the open embrace of wholesale broadband opportunities and fibre upgrades for its mobile base stations has been planned by Eircom.
According to new incoming CEO Paul Donovan and Terry Clontz, the MD of new majority owners Singapore Technologies Telemedia (STT), the former monopoly is poised to embark on a major overhaul that will make it ‘a force in wholesale, global IP transit, digital television and next generation mobile.
Smart Telecom sells business to shareholder
Irish operator Smart Telecom has agreed to sell the company and its assets to its major shareholder, Brendan Murtagh. He already holds 20 percent of the company. A shell company controlled by Murtagh called BidCo will acquire Smart Telecom for EUR 1 and 10 percent of BidCo shares, also assuming its some EUR 40 million in debts. The deal is subject to the approval of shareholders, of which 42 percent have already given the okay. Smart has been struggling to arrange new financing and pay liabilities, such as to incumbent network operator eircom, which recently disrupted service to Smart customers. The company said it was unable to find a source of new equity and Murtagh has been providing short-term financing. If the sale goes ahead, Smart shares will be de-listed and the board members Ken Barry, Ray King, Paul Sullivan, Maria Pearl Roche and Tormod Hermansen will also resign. Kyran O’Dwyer has been appointed acting chairman until
the transaction is voted on by the shareholders.
Source- http://www.telecompaper.com
