Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Yesterday the Minister for Communications, Climate Action and the Environment, Deputy Naughten, made a statement to the Dáil in which he outlined several facts relating to the ongoing controversy around the proposed takeover of Celtic Media by Independent News and Media, INM. There is no need for further clarity because the Minister has clarified the matter and the facts speak for themselves. The Minister confirmed that he spoke to Eoghan Ó Neachtain in November 2016. He said he knew that Ó Neachtain was acting on behalf of INM. He confirmed that no note was taken and that he did not inform any of the officials in the Department of the conversation with Mr. Ó Neachtain. He confirmed that he informed Mr. Ó Neachtain that the likely course of action relating to the proposed takeover of Celtic Media would be subject to a referral to the BAI.

The notion that this was a purely personal view stretches the bounds of credibility. Mr. Ó Neachtain was hardly phoning the Minister for a personal view. Does the Tánaiste believe that was the reason for the phone call? We all know that he rang him because he was the Minister with the regulatory and statutory responsibility for referring the takeover bid to the BAI. The Minister also confirmed that it was two months before he provided that information to others. This was indisputably commercially sensitive information and INM knew this. Why else would it be referred to in an email to the then chairman of INM as highly confidential? Why else would the then chairman suggest to the largest shareholder that the normal course of action would be for the Minister just to sign it and that a referral to BAI was unprecedented? This all adds to the fact that this was valuable information provided by a Minister to someone acting on behalf of a party interested in acquiring Celtic Media. That is what the Minister has done and it is unacceptable, no ifs, no buts. These are the actions which led to the Director of Corporate Enforcement describing it as potentially constituting inside information, not Sinn Féin, not the Opposition, but the Office of the Director of Corporate Enforcement and a possible breach of stock market rules.

This is an example of old-style politics of the golden circle variety, the nod and wink culture, the who you know mentality, the old boys' club. We all thought those days were over. We disagree on many things but I hope we can agree those days are over and this is not acceptable. Will the Tánaiste stand over that? Does he have full confidence in the Minister and how he handled himself? Last night our party leader, Deputy McDonald, wrote to the Taoiseach stressing the need for him to act and deal adequately with the situation in hand. What is the Tánaiste, as one of the most senior persons in government, personally going to do about this or is he just going to turn a blind eye to the type of practices that have unfolded and that we have been informed of over the past 24 hours?

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