Oireachtas Joint and Select Committees
Thursday, 10 February 2022
Public Accounts Committee
2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 29 - Environment, Climate and Communications
National Broadband Plan Expenditure and Related Matters
9:30 am
Mr. Peter Hendrick:
I appreciate that. The shareholders in NBI today are the same shareholders and partners David McCourt has had with Granahan McCourt in other entities, Enet being one. They are not unknown entities. It was not a rush to get out. They have an investment cycle, which is typically anywhere between three and seven years. Oak Hill is a typical private equity investment fund that has an investment cycle of three to seven years. It wants to bring in the remaining long-term partner now because we are at a point where the technology and demand for high-speed broadband is clear and the construction is clear.
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