Flak flying as Telecom floats

So the Telecom Eireann flotation juggernaut is up and running and already it is getting flak. The Government certainly appears to be doing its homework in getting some indication of interest from potential shareholders before committing itself on the issue of how much of the company it will relinquish.

While the move will minimise the chances of the State being left with unwanted shares, it will also allow its advisers to set the price at a high enough level to maximise the return for the Exchequer and low enough to tempt investors with the hope of appreciable gains in the short to medium term.

However, the idea of an aspiring telecoms giant of the new millennium offering interested parties the option of responding by post or helpline has raised a few eyebrows. Surely in this electronic age, Telecom could provide an electronic alternative, especially as it seeks to present its best face to its potential owners.