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Denis O'Brien, (born April 19, 1958 in County Cork), is an Irish entrepreneur. An Arts graduate of University College Dublin, O'Brien received an MBA in corporate finance from Boston College in 1982, he holds an honorary doctorate from University College Dublin. April 19 is the 109th day of the year in the Gregorian calendar (110th in leap years). ...
Year 1958 (MCMLVIII) was a common year starting on Wednesday (link will display full calendar) of the Gregorian calendar. ...
Statistics Province: Munster County Town: Cork Code: C (CK proposed) Area: 7,457 km² Population (2006) 480,909 (including City of Cork); 361,766 (without Cork City) Website: www. ...
For the sequel to the computer game Entrepreneur, which has no article of it own, see The Corporate Machine. ...
University College Dublin - National University of Ireland, Dublin - more commonly University College Dublin (UCD) - is Irelands largest university, with over 20,000 students. ...
Master of Business Administration (MBA) is a tertiary degree in business management. ...
For similarly-named academic institutions, see Boston (disambiguation). ...
Year 1982 (MCMLXXXII) was a common year starting on Friday (link displays the 1982 Gregorian calendar). ...
University College Dublin - National University of Ireland, Dublin - more commonly University College Dublin (UCD) - is Irelands largest university, with over 20,000 students. ...
Mobile phone entrepreneur
In 1995, O'Brien set up and chaired the Esat Digifone consortium which submitted a bid for the second Irish GSM mobile phone license. Esat Digifone's bid beat off five other applicants, all of which included major international operators. The Esat Digifone consortium was 40% owned by O'Brien's interests, 40% owned the Norwegian state telecoms operators, Telenor, with the balance being owned by International Investment and Underwriting (IIU), an investment vehicle owned by Mr Dermot Desmond.
The awarding of the licence to Esat Digifone is one of the matters being inquired into by the Moriarty Tribunal which was established in 2002 to investigate alleged payments to politians. However despite extensive private and public enquiries and evidence given by over 140 witnesses, those allegations remain unproven and unsupported by evidence given in public. All parties involved in the specially constituted inter-departmental Project Team have denied any impropriety or wrongdoing and have specifically denied suggestions of interference in the license process on the part of the then Minister, Michael Lowry T.D. The tribunal is expected to issue its final report into this matter by the end of 2007. Mr. O'Brien successfully challenged the Moriarty Tribunal on two occasions in the Irish Courts. In November 2006, he filed a complaint with the European Court of Human Rights protesting at the manner in which the Tribunal has conducted its inquiries. The Moriarty Tribunal is an Irish tribunal of inquiry into (inter alia): whether substantial payments which might not have been ethical to receive were made to Charles Haughey (Taoiseach during part of the time concerned) and Michael Lowry between 1 January 1979 and 31 December 1996, the source of those...
On 7 November 1997, Esat Telecom Group plc held an initial public offering and was listed on the Irish Stock Exchange, London Stock Exchange, and NASDAQ Stock Markets. In 1999, relations became tense between Denis O'Brien and Telenor over how Esat Digifone should be operated. Telenor tried to remove Denis O'Brien as chairman of Esat Digifone and remove the Esat name from the company. Esat for its part retaliated by threatening to sue Telenor, and making repeated offers to buy the Norwegian company out. Eventually, in November 1999, Telenor bid for the entire share capital of Esat Telecom Group plc as a way of solving the situation. The bid was rejected by the Esat board and so became a hostile takeover attempt. In order to defend this, in January 2000, British Telecommunications plc (now BT Group plc) made a friendly takeover offer for the company which was backed by the Esat board. Esat became a wholly owned subsidiary of BT and was delisted from the stock market. Denis O'Brien personally netted €317 million from the sale. is the 311th day of the year (312th in leap years) in the Gregorian calendar. ...
Year 1997 (MCMXCVII) was a common year starting on Wednesday (link will display full 1997 Gregorian calendar). ...
The Irish Stock Exchange (ISE) is Irelands stock exchange and can trace its history to 1793. ...
The Source by Greyworld, in the new LSE building Paternoster Square. ...
Telenor (OSE: TEL, NASDAQ: TELN) is the incumbent telecommunications company in Norway, with headquarters located at Fornebu, close to Oslo. ...
BT Group plc (also known as British Telecommunications plc) which trades as BT (and previously as British Telecom) is the privatised UK state telecommunications operator. ...
After exiting the Irish mobile phone market, O'Brien started to compete for mobile phone licences in the Caribbean through his wholly owned company Digicel. Digicel, which has in excess of 4.7 million mobile phone subscribers in the Caribbean, owning[citation needed] nearly 90% of the business. Recently, he set up a new subsidiary Digicel Group Ltd. and via a bonds issue acquired the entire holding of Digicel Limited. He now owns 100% of the company. O'Brien is also rolling out Digicel operations in the South Pacific with operations in Samoa and [Papua New Guinea][1] and licenses in the Solomon Islands, Vanuatu and a license in principal in Fiji. Digicel is the leading mobile phone network provider in the Caribbean region. ...
Digicel is the leading mobile phone network provider in the Caribbean region. ...
He owns technology companies, including IrishJobs.ie, as well as Communicorp Group Ltd.
Shareholding:
In January 2006 O'Brien first took a stake in Sir Anthony O'Reilly's Independent News and Media (IN&M)and has increased his position three times this year. He now holds an 8.35% (64.2 million shares) stake in the company. At the beginning of June 2007 O'Reilly tabled a resolution to strengthen rules on the disclosure of beneficial interests. This measure is widely regarded as a defensive measure that would empower IN&M to monitor any additional accumulation of shares in the company this resolution will come before an extraordinary general meeting on 13 June 2007 (Motion Passed). O'Brien speaking on RTÉ radio described the resolution as "retrograde" and would vote against the measure he also said that the resolution was designed to protect the interests of O'Reilly's family against a hostile bidder such as himself, the resolution if passed would empower IN&M to withhold dividends from investors who did not comply with a request for information on the ownership of a holding of shares. (Irish Times Business this week June 8, 2007) is the 164th day of the year (165th in leap years) in the Gregorian calendar. ...
Year 2007 (MMVII) is now the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ...
June 8 is the 159th day of the year (160th in leap years) in the Gregorian calendar. ...
Year 2007 (MMVII) is now the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ...
Electrical industry failure On the first phase of de-regulation of the electricity supply industry in Ireland in the late 1990s, O'Brien established a company to sell electricity to large industrial and commercial electricity customers, having first bought electricity from the Electricity Supply Board. This venture was unsuccessful and closed in less than one year of operation. Block quote ESB may refer to: Extreme Sperm Build-up, describes what happens when a man has not emptied his load for a long time. ...
Other interests He was Chairman of the Special Olympics World Summer Games when they were held in Ireland in 2003 and on the U.S. Board of Concern Worldwide. This article or section does not cite its references or sources. ...
In September 2005, O'Brien was named Deputy Governor of the Bank of Ireland but in September 2006, he resigned from this and all other directorships in Ireland due to work commitments in rolling out mobile networks in the Caribbean and South Pacific. Simultaneously he moved his residence from Portugal to Malta, for tax reasons. The Bank of Ireland (ISEQ: BKIR_p) LSE: BKIR NYSE: IRE, officially known as the Governor and Company of the Bank of Ireland is a commercial bank operation on the island of Ireland, one of the Big Four. The bank was formed by an Act of the Irish Parliament in 1782...
Denis O'Brien is also a member of the Bilderberg group and attended their recent meeting in Ottawa, Canada, from 8-11 June 2006.[2] The Bilderberg Group is an informal, secretive and international association of influential people, meeting every year. ...
Esat Digifone Esat Digifone paid IR15m for the license in 1996 (with the incumbent operator Eircel paying IR10m). Esat Digifone invested in the region of IR1bn in the Irish market in rolling out its network and developing the Esat Digifone business. The company went on to capture 40% of the mobile phone market becoming the most successful second mobile operator in Europe. Allegations of impropriety in the awarding of the license have been inquired into by the Moriarty Tribunal since December 2002 though no evidence has been brought forward to suggest impropriety on behalf of the Esat Digifone consortium. O'Brien has frequently brought proceedings against the Moriary Tribunal in the Irish High Courts protesting at the way in which the Tribunal is conducting its inquiry. With residency in Portugal and now Malta, O'Brien has been involved in a number of charitable causes.
Other awards In April 2007 O'Brien accepted the first honorary Vice-Presidency of the UCD Quinn Society (Europe's largest Career & Academic Society).
Personal wealth According to the Sunday Times Rich List 2007, Denis O'Brien's net worth was €2.262 billion (£1.498 billion), the fourth richest individual in the Irish rich list. An expected substantial flotation of Digicel on the New York Stock Exchange in 2006 did not materialize as O'Brien took 100% ownership of the company.[1]. The Sunday Times Rich List 2007 was published on 29 April 2007. ...
Resignation He resigned from the position of Deputy Governor Bank of Ireland, and also as a member of the Bank's board or court, on September 12, 2006[2]. He is also thought likely to step down as a director of the Smurfit Business School at University College Dublin and is expected to leave a number of other posts, including a directorship of Oakhill Group Plc. The Bank of Ireland (ISEQ: BKIR_p) LSE: BKIR NYSE: IRE, officially known as the Governor and Company of the Bank of Ireland is a commercial bank operation on the island of Ireland, one of the Big Four. The bank was formed by an Act of the Irish Parliament in 1782...
September 12 is the 255th day of the year (256th in leap years) in the Gregorian calendar. ...
For the Manfred Mann album, see 2006 (album). ...
University College Dublin - National University of Ireland, Dublin - more commonly University College Dublin (UCD) - is Irelands largest university, with over 20,000 students. ...
These moves arising ahead of the publication of a report by the Moriarty Tribunal, which is investigating a series of complex transactions to find out whether O'Brien conferred any financial benefit on former cabinet minister Michael Lowry who was involved in awarding ESAT Digifone it's mobile phone license. The Bank of Ireland issued a statement describing his resignation to; " his growing international business interests together with the demands of an extensive travel schedule, meant that he could no longer devote the time required to the ever increasing workload of the court." [3]. Michael Lowry is a Republic of Ireland politician. ...
Move to Malta O'Brien has considered the flotation of Digicel on the New York Stock Exchange and he has taken up residence in Malta. Malta charges no tax on worldwide assets or income brought in by permanent residents[4]. Residence, for tax purposes, means renting or buying a property with a minumum value and visiting Malta at least once within one year of becoming a resident. Mr O'Brien has also resigned from the Norkom Group and the Smurfit Business School. His spokesman said the resignations were unconnected with the work of the Moriarty tribunal, which is looking at the awarding of a mobile phone licence to Esat. The tribunal is expected to publish a report in 2007. Digicel is the leading mobile phone network provider in the Caribbean region. ...
The New York Stock Exchange (NYSE), nicknamed the Big Board, is a New York City-based stock exchange. ...
O'Brien owns in excess of 87 per cent of the Digicel group, which is owned by way of Digicel Ltd based in Bermuda, another territory with an attractive capital gains tax regime.
He had been a tax resident of Portugal when he sold Esat Telcom in 2000 and this enabled him avoid Irish capital gains tax. He still owns considerable property in Portugal, and goes there for golfing holidays. The government of Portugal closed the loophole in capital gains tax exposed by O'Brien, with the lost opportunity to gain tax revenue probably an important factor in this decision. Currently in March 2007, he is a resident of Malta for tax purposes.
References - ^ "Sunday Times Rich List 2006", The Sunday Times. Retrieved on 2006-09-12.
- ^ "O'Brien leaves Bank of Ireland Court", RTÉ News, 2006-09-12.
- ^ Smyth, Sam. "Standing down has sparked speculation", Irish Independent, 2006-09-13.
- ^ "O'Brien makes pre-flotation move to Malta", The Irish Times, 2006-09-15.
5. Jamaica Observer, May 17th 2006 Shortcut to: http://www.jamaicaobserver.com/columns/html/20060416T200000-0500_102714_OBS_DENIS_O_BRIEN___VISIONARY_PHILANTHOPIST_EMBRACES_EMPLOYEE_OWNERSHIP_.asp For the Manfred Mann album, see 2006 (album). ...
September 12 is the 255th day of the year (256th in leap years) in the Gregorian calendar. ...
For the Manfred Mann album, see 2006 (album). ...
September 12 is the 255th day of the year (256th in leap years) in the Gregorian calendar. ...
For the Manfred Mann album, see 2006 (album). ...
is the 256th day of the year (257th in leap years) in the Gregorian calendar. ...
For the Manfred Mann album, see 2006 (album). ...
is the 258th day of the year (259th in leap years) in the Gregorian calendar. ...
See also Dublins 98FM is an Independent Local Radio station in Dublin, Ireland, operated by Radio Two Thousand Limited, a subsidiary of Denis OBriens Communicorp Limited, under a sound broadcasting contract from the Broadcasting Commission of Ireland. ...
East Coast FM (formerly known as BLB, Horizon FM, then East Coast Radio) is an Irish local radio station broadcasting from Bray, County Wicklow. ...
Digicel is the leading mobile phone network provider in the Caribbean region. ...
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