Mr. Peter McCarthy:

That is no problem. The first decade of the MANs programme saw significant investment and positive market impact from Enet and the company saw an opportunity to invest further in the asset to ensure that it remained at the heart of a rapidly changing telecoms landscape and to continue to deliver policy benefits for the State. When Enet approached the Department of Communications, Climate Action and Environment in July 2014, there was less than six years remaining on the phase 1 concession and given our investment plans and the fact that the payback period for infrastructural investment exceeded the remaining life in the concession, we felt it was more than appropriate to commence discussions with the Department.