Sir, - It will be a pity if Eircom decides to deal with consortiums of financial wizards such as Sir Anthony O'Reilly, George Soros, Denis O'Brien, Dermot Desmond and others. All are speculators who have spotted a bargain. None has sufficient telecom experience. Nor would any of them give much consideration to the shareholders' lot. Vodafone, likewise, is there "for the kill" too, at a bargain price.
Eircom still holds a virtual monopoly, carries little debt compared to other big telecom companies and continues to generate a good cash flow. Why not follow the advice of top experts Barry Maloney, Enda Hardiman and Sean Melly and hold on for another year or two? These are men who have proved themselves in world telecom technology and deserve a hearing. In the meantime, let Eircom management, which must have by now "grasped the nettle", push ahead, restructure, cut losses and, maybe expand its fixed-line business into other growth areas. United, this great company will survive and go from success to success; divided, it will fall, since each section is complementary to the other. So it is up to shareholders, both corporate and private, to act wisely. Suffer on just a little longer and your patience will surely be rewarded. Certain members of the Government whose voices were heard so clearly when enticing thousands of small shareholders to invest their hard-earned cash at the launch of Eircom must feel a little guilty - even a little sad too, if they have to witness what was once the jewel of the "semi-States" being shredded to bits! - Yours, etc.,
James A. Gleeson, Thurles, Co Tipperary.