Aura of success dims for O'Brien

Does Ireland's Entrepreneur of the 1990s ever feel that it doesn't pay to try to repeat earlier triumphs? Denis O'Brien made his name standing up to a State monopoly, Telecom Eireann, and, if not winning, at least making a good enough fight of it to bank an unthought-of profit from the exercise.

There is a certain irony in the fact that his latest bruises have come at the hands of his former adversary and another State monopoly.

It was his public attitude as head of Esat Telecom that seems to have persuaded workers at Eircom that he is not someone with which they wish to do business.

So much so that they presented a petition to company bosses exhorting them not to do business with their former foe, confirming the view of the Employee Share Ownership Trust that the staff would accept a lower offer for their shares rather than do business with Mr O'Brien.

On the same day Eircom staff were making their feelings clear, the power company in which Mr O'Brien is the majority shareholder, ePower, conceded defeat in its battle to compete with ESB and Viridian - the former Northern Ireland power monopoly.

A miserable week ended with Eircom apparently slipping from his grasp to an increased bid from Valentia and a commitment from majority shareholder Comsource to stick with his rival unless O'Brien's eIsland group bids €1.50 (£1.18) a share - an unforseeable scenario.