Digicel credit rating upgraded on improved finances after restructuring
Mobile phone network group remains junk rated, partly due to focus on markets ‘with history of instability and adverse weather events’
Mobile phone network group remains junk rated, partly due to focus on markets ‘with history of instability and adverse weather events’
The best news, analysis and comment from The Irish Times business desk
Denis O’Brien handed 90% of the Caribbean-based telecoms group over to bondholders under a debt-for-equity swap finalised in January
Separately, EirGrid CEO Mark Foley to step down
Caribbean country is telecoms group’s largest market by mobile subscribers
Armed groups attack country’s largest prison as top gang leader calls on criminal groups to unite and overthrow country’s prime minister
Deal marks further shrinking of businessman’s empire as Australian financial services giant Macquarie to pay €400m for facility
Denis O'Brien's holding may double to 20% should warrants attached to the restructuring ultimately be triggered
US powerhouse economy grows by 5.2% in third quarter, is expected to expand by 2.1% in 2023 and 1.5% in 2024
A tech sector slowdown coupled with rising interest rates gave many a year to forget
Bondholders soon to take ownership of the embattled Caribbean telecoms empire
O’Brien will see his stake decline to 10% as consortium takes control of mobile business
Joe Brennan, Ciara O’Brien, Arthur Beesley and John Burns have been nominated for this year’s awards
The best news, analysis and comment from The Irish Times business desk
Ibec’s podcast sponsorship, Collison’s Abbeyleix charity event, new roles for Altada’s co-founders, NTMA’s land deal in the docks and Digicel’s sports channel in the Caribbean
Oliver Coughlan retires as Digicel chief executive in December, with COO Maarten Boute assuming role on interim basis
O’Neill’s jersey sales, media regulator’s new hires, insolvency fun in Amsterdam, Tirlán recruits McConalogue’s adviser
Company’s debt restructuring documents show how parts of businessman’s empire have continued to benefit financially from offering services to the group since he stopped taking dividends eight years ago
Seen & Heard: Developers’ backstop; vacant site judicial review; RTÉ bailout; Biden’s bills; and Tesco store plans
Business Today: the best news, analysis and comment from The Irish Times business desk
Dee Forbes and Munster Rugby, Garda College lands controversy, Eir CEO’s attack on ComReg, National Lottery could be on the move, GAA’s no-cash policy, and higher education headhunters
Business Today: the best news, analysis and comment from The Irish Times business desk
Businessman to lose most of his stake in telecoms group
Business Today: the best news, analysis and comment from The Irish Times business desk
Denis O’Brien-owned group expects to file for Chapter 15 bankruptcy protection as part of wider debt restructuring agreement
Any Other Business: Denis and the Damsel in Distressed; economists in a spin over Higgins; Quinn Country’s second life; EI’s funding gap; two takes on Paddy Cosgrave
Investors due to have been repaid on March 1st agree further 30-day grace period with troubled firm
Digicel already received 45 days of grace on the debt pile and is set to be granted another extension
Plus: Ireland’s most expensive magazine? And Denis O’Brien’s campaign on Caribbean slave reparations
Thousands of online purchases from smaller UK retailers had been returned each day post-Brexit
Denis O’Brien currently owns 99.9 per cent of the group
In return for a debt restructuring, the tycoon is ceding control of the Caribbean mobile phone company he founded in 2001
The telecoms magnate is expected to lose control of Digicel, his Caribbean telecoms group
Denis O’Brien’s mobile telecoms operator expanded fast, but has struggled to get on top of its debts in recent years
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