Smart shares to change hands on Wednesday

31 Oct 2005

The CEO of Irish operator Smart Telecom, Oisin Fanning, is planning to double his stake in the company via a share placing due to be completed this week. Fanning currently owns a direct 3% stake in Smart and has secured a EUR5 million loan to up his holding to 6%; he also owns a further 6% in the company indirectly. Fellow shareholder Brandan Murtagh is expected to increase his stake in Smart from 11% to 15%, whilst the company’s current majority shareholder, Cantor Fitzgerald, will halve its 12.7% stake. The placing is to be completed on Wednesday.

Formed in 2000, Smart Telecom claims to be the fastest growing provider of residential, business and metro telecom services in Ireland. Traditionally a reseller of eircom’s voice telephony products, in February 2005 Smart launched its first LLU DSL service, rolling out a 2Mbps service in Dublin for EUR35 a month. The telco is deploying a Resilient Packet Ring (RPR), MPLS-based IP next generation network and plans to expand the service nationally.

Ireland, Smart Telecom (Ireland),

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Browse

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share