sunday tribune logo
 
go button spacer This Issue spacer spacer Archive spacer

In This Issue title image
spacer
News   spacer
spacer
spacer
Sport   spacer
spacer
spacer
Business   spacer
spacer
spacer
Property   spacer
spacer
spacer
Tribune Review   spacer
spacer
spacer
Tribune Magazine   spacer
spacer

 

spacer
Tribune Archive
spacer

Irish telecoms mogul may reap as much as �?�120m from Austrian sale
John Mulligan



ETEL, the east European telecoms provider founded by Irish entrepreneur Sean Melly, may be bought by Telekom Austria for 120m.

Nine companies are believed to be interested in acquiring the firm, which offers voice, data and internet services in Austria, the Czech Republic, Hungary, Poland and Slovakia.

Earlier this year Etel paid 30m to buy Austria's largest internet provider, EUnet.

Austria Telekom is understood to be the leading contender to purchase Etel, which is backed by investors including Dresdner Kleinwort Capital, Greenhill, Argus and Intel. Etel has received about $80m in venture capital to date.

Telekom Austria and Etel have declined to comment on the potential deal.

Etel's chairman is former Central Bank director Bernard Somers, who is also active on the boards of a number of Irish public firms including Independent News & Media, DCC, AIB and South Wharf, which was sold this month for 412m to a consortium led by Bernard McNamara.

Melly indicated some months ago that Etel might list on London's Alternative Investment Market this year, but that move failed to materialise. Etel is understood to have generated revenues of over 72m last year and to have posted a loss before interest and tax of 2.9m.

Its acquisition of EUnet this year was set to boost its earnings before interest, depreciation, taxation and amoritisation to 10m. Etel has about 250,000 fixed network and internet customers in Austria.




Back To Top >>


spacer

 

         
spacer
contact icon Contact
spacer spacer
home icon Home
spacer spacer
search icon Search


advertisment




 

   
  Contact Us spacer Terms & Conditions spacer Copyright Notice spacer 2007 Archive spacer 2006 Archive