Results 4,641-4,660 of 6,530 for speaker:Ruairí Ó Murchú

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)

Ruairí Ó Murchú: Is there further information on the company?

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)

Ruairí Ó Murchú: I would not like to have to draw the diagram.

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)

Ruairí Ó Murchú: Mr. Hendrick said he wants the journalists to engage directly with him.

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)

Ruairí Ó Murchú: It was always there.

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)

Ruairí Ó Murchú: In fairness, it is good to hear that, because that was our fear. I will be honest - it was the example of the initial paying of the €20 million performance bond that caused people to get worried and to think it was a cash flow issue, but that is not the case. I wish to return to the question of debt and equity or debt versus equity, for want of a better term. I will move through...

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)

Ruairí Ó Murchú: Mr. Hendrick said something earlier about getting a new investor or new funder that would give NBI the capacity to become a major international telecommunications operator. Would that be fair enough? I suppose that is being done on the basis that Mr. Hendrick does not believe the structure he has behind him is fit to do that business. I am not trying to catch him out in any way. I am just...

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)

Ruairí Ó Murchú: Investors give the capacity.

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)

Ruairí Ó Murchú: It involves minor redesigns.

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)

Ruairí Ó Murchú: The reason is that I asked about investors.

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)

Ruairí Ó Murchú: NBI does not need those investors.

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)

Ruairí Ó Murchú: In fairness, Mr. Hendrick was clear that he was talking post this. I accept some of what the Chairman said. Mr. Hendrick said NBI is looking for an investor that would want to invest long term. He might not be able to answer this question but is it fair to say that Oak Hill Advisors or whoever might not be that investor whereas somebody else with telecoms history might be?

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)

Ruairí Ó Murchú: Or planning.

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)

Ruairí Ó Murchú: Have a name.

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)

Ruairí Ó Murchú: That is what they are looking for. They are looking for a major player.

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)

Ruairí Ó Murchú: That is fair enough. I can see a logic to the profile of some of the investors. The fear was that some of them would not be long-term telecoms investors. I imagine that would need to happen as soon as possible. This point has been answered already but I just want to make it clear. Mr. David McCourt calls the shots on the basis of his voting rights.

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)

Ruairí Ó Murchú: He has the majority. In the contract, it was not necessarily clear whether it was shareholders or whatever. Is it 100% on the basis of-----

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)

Ruairí Ó Murchú: That is 100%. NBI has put out the figures of 60,000 premises by the end of March and the 130,000 by the end of the year. Will there be a possibility of the latter figure being accelerated by June or is it too early to say now?

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)

Ruairí Ó Murchú: I accept that. I am just making sure that these targets are put out there. The Minister said something about the figures for this year. NBI is talking about 100,000 to 130,000 premises, but it will be finalising that figure in the next two weeks.

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)

Ruairí Ó Murchú: Is that a recalibration of everything else?

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)

Ruairí Ó Murchú: I will be quick. Please excuse my lack of understanding. The Minister keeps talking about €2.1 billion. I am fed up listening to him going on about €3 billion, €5 billion and all the rest. The State is on the hook for €2.1 billion and then there is a figure of between €400 million and €500 million. What is the story with the contingency? How...