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Thread: Denis O達rien: Dividends, Debt And Paying Back Anglo

  1. #31
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    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    Tom Lyons on DOB's Anglo borrowings in today's Indo:
    Denis O'Brien, the telecoms entrepreneur, is listed as owing Anglo Irish Bank €833.8m on foot of personal and corporate loans just after the bank was nationalised in 2009, making him its then sixth largest borrower.
    Mr O'Brien has over the past three years reduced his borrowings to under €500m using cash generated by his Caribbean and Pacific-based mobile phone empire.
    Ireland's fourth richest man is understood to hope to reduce his borrowings to €300m some time this year as part of an extensive, agreed debt-repayment plan. He has not missed an interest payment and is considered the bank's best-performing large borrower.
    http://www.independent.ie/business/i...o-3081219.html

  2. #32
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    Default Maidir Le: Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    Quote Originally Posted by PaddyJoe View Post
    Tom Lyons on DOB's Anglo borrowings in today's Indo:

    http://www.independent.ie/business/i...o-3081219.html
    The other five are bankrupt ?

  3. #33
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    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    Anne Harris claims that Denis O'Brien asked IN&M Chairman James Osborne to pull Tom Lyons' Sindo story about his Anglo borrowing:
    The article related to Denis O'Brien's borrowings from Anglo Irish Bank. A spokesman for Denis O'Brien yesterday denied that this took place.

    Osborne says he talked him down, telling him he was behaving like a "spoiled teenager". To Osborne's eternal credit, this was the first I knew of the alleged editorial interference.

    The article was published under the heading 'Anglo Irish's Top 13 Buccaneer Borrowers'. It was fair to Denis O'Brien, making clear that he was one of those paying the bank back. O'Brien knew of
    http://www.independent.ie/opinion/co...m-3140355.html

  4. #34
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    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    That Mirror story about O'Brien and Fitzpatrick drinking together in Poznan is here, btw
    http://www.thefreelibrary.com/THE+BO.....-a0292752427

  5. #35
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    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    Quote Originally Posted by PaddyJoe View Post
    That Mirror story about O'Brien and Fitzpatrick drinking together in Poznan is here, btw
    http://www.thefreelibrary.com/THE+BO.....-a0292752427
    Mr O'Brien has defended his pal publicly before and claimed he has become a scapegoat for Ireland's entire economic collapse.

    He said in 2009: "He has made mistakes but he continues to be my friend."

    Seanie's son Jonathan works for Mr O'Brien's company Digicel in the South Pacific.

    Mr O'Brien has been listed as owing Anglo EUR833.8million on foot of personal and corporate loans just after the bank was nationalised in 2009, making him its then sixth largest borrower.
    Why would they not be friendly, with such an important business relationship.

    It would be interesting to know the terms of O'Brien's loan - interest, collateral etc., and how much, if any, commission / bonus was paid to any Anglo Irish personnel.

    Also, how the two got to know each other, when the first loans were given to O'Brien, and what he used them for.

    The term "golden circle" still has a certain aptness, although I can think of more scatalogical terms that might fit even better.

  6. #36
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    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    "Who cares about Greece - it's a distraction" "Tell them - 'You're on your own'"

    http://www.washingtonpost.com/europe...YtV_video.html


    O'Brien wants deposit guarantees quadrupled and the banks stuffed with government cash.

  7. #37
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    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    Quote Originally Posted by C. Flower View Post
    "Who cares about Greece - it's a distraction" "Tell them - 'You're on your own'"

    http://www.washingtonpost.com/europe...YtV_video.html


    O'Brien wants deposit guarantees quadrupled and the banks stuffed with government cash.
    "Government cash"? Taxpayers money!!! It really does make me wonder just where do these pricks get offィ!!!!!!

  8. #38
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    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    Quote Originally Posted by Slim Buddha View Post
    "Government cash"? Taxpayers money!!! It really does make me wonder just where do these pricks get offィ!!!!!!
    Not alone that. The messenger himself has me seething
    Thomas Jefferson : Banking Establishments are More Dangerous to our Liberties than Standing Armies.

  9. #39
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    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    Quote Originally Posted by C. Flower View Post
    "Who cares about Greece - it's a distraction" "Tell them - 'You're on your own'"

    http://www.washingtonpost.com/europe...YtV_video.html


    O'Brien wants deposit guarantees quadrupled and the banks stuffed with government cash.
    Also in that interview Denis calls for an EU regulator and Hey Presto -

    Linda Yueh
    ECB may be bank regulator for EU-27, backed by all leaders to be sealed at EU summit, initial step "bank union", EC plan by end summer: Welt
    Thomas Jefferson : Banking Establishments are More Dangerous to our Liberties than Standing Armies.

  10. #40
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    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    O'Brien took a 300 million dollar dividend from Digicel, according to the Sunday Times.
    Wonder will he throw a few bob in to repay his Anglo debts?

    Irish telecommunications billionaire Denis O達rien received a $300 million special dividend from his Digicel Group Ltd., the Jamaica-based mobile phone company, for the year through March, the Sunday Times reported, without citing anyone.
    O達rien received a $115 million dividend from Digicel for the previous year and took $800 million from the business in a refinancing in 2008, when he took full control of the company, which has operations across the Caribbean, Central America and the Pacific, the newspaper said in its Irish edition.
    The most recent special dividend payment was disclosed in an analyst conference call this month, the report said. James Morrissey, a spokesman for O達rien, declined to comment when contacted by Bloomberg News.
    http://www.bloomberg.com/news/2012-0...imes-says.html

  11. #41
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    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    turns out the bould Denis does not control INM

    The broadcasting watchdog has determined that telecoms entrepreneur Denis O’Brien does not control Independent News and Media (INM).

    The Broadcasting Authority of Ireland has concluded that O’Brien has “a substantial interest in the Company (INM)”. O’Brien’s controls or has substantial interest in six radio stations and owns 29.9 per cent of INM.

    Following its decision the BAI said: “In this regard, the Authority was not obliged to review Mr O’Brien’s interests in the context of an undue amount of communications media.”
    The BAI also noted:

    he does not own shares which give him more than 50 per cent of the voting rights exercisable at meetings of INM’s shareholders.

    that O’Brien may nominate three directors to the board of IN&M.

    That a special resolution cannot be carried at a meeting of the shareholders of INM if O’Brien votes against
    http://www.businesspost.ie/#!story/H...9-a99536450194
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  12. #42
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    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    Quote Originally Posted by DCon View Post
    turns out the bould Denis does not control INM

    http://www.businesspost.ie/#!story/H...9-a99536450194

    Who controls the BAoI ?

  13. #43
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    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    Quote Originally Posted by C. Flower View Post
    Who controls the BAoI ?
    The Authority members and the government of the day, it seems

    http://www.bai.ie/?page_id=19
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  14. #44
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    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    Quote Originally Posted by DCon View Post
    turns out the bould Denis does not control INM

    The broadcasting watchdog has determined that telecoms entrepreneur Denis O達rien does not control Independent News and Media (INM).
    I though he had just got rid of the chair of the board.

    What a joke.
    Do not rejoice in his defeat, you men. For though the world has stood up and stopped the bastard, the (female dog) that bore him is in heat again. Bertolt Brecht

  15. #45
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    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    Digicel is thought to have a debt burden of $5 billion, according to this piece in today's IT:
    According to a note from credit ratings agency Fitch published around the same time as the group’s results in June, Digicel had debts of $4.5 billion at the end of December 2011, which related to its operations in the Caribbean, Central America and the Pacific.

    The extension of an existing loan agreement in January and the issue of a $250 million bond the following month are thought to have increased its debt burden to $5 billion.

    The company does not publish details of its debts.
    Digicel also lost a court case iin Jamaica recently involving interconnection charges:
    Both Jamaica and the eastern Caribbean region are among the biggest contributors to Digicel’s revenues, which topped the $2.5 billion mark in its last financial year.

    Last month, the Jamaican Supreme Court refused to grant Digicel a judicial review of Jamaica’s telecoms regulator’s decision to set interconnection charges.

    Digicel had been charging its competitor, Cable Wireless-owned Lime, JMD$9 to connect into its network, but the regulator cut this to JMD$5.

    Historically, Digicel was allowed to charge its rival the higher interconnection rate to facilitate competition. When it entered the Jamaican market 11 years ago, Cable Wireless was the dominant player in the country’s mobile market.
    http://www.irishtimes.com/newspaper/...322134069.html

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