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Siteserv share activity concerns
26 Apr 2015 18:06
Tánaiste Joan Burton has told RTÉ News she wants to see all the relevant information about Siteserv be made available and published.
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Ms Burton was responding to a question as to whether there should be an investigation into an allegation of increased trading in construction firm Siteserv shares, prior to its sale by IBRC.
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The Tánaiste said the Special Liquidators have been appointed to investigate the sale of Siteserv to Millington, a Denis O'Brien controlled company.
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Ms Burton said if there are further inquiries needed to address specific issues, then she is perfectly happy to see that happen.
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Earlier today Fianna Fáil leader Micheál Martin called for the publication of the Siteserv share register.
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His call follows a report in today's Sunday Times that there was a surge in share activity a month before the State owned bank IBRC received the first bids in a confidential sale process for Siteserv.
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Speaking on RTÉ's The Week in Politics, Mr Martin said Minister for Finance Michael Noonan should direct the Special Liquidators to publish the share register for the company.
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"I want that made public," he said.
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He said there has been "a bit of a cover-up" in terms of what was known about the sale of Siteserv.
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Mr Martin said the fact Department of Finance officials had concerns about the sale was not revealed from the outset.
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Earlier Independent TD Catherine Murphy, who first raised concerns about the sale of Siteserv, told RTÉ News the increased share activity in the month before the receipt of formal bids raised extremely serious questions.
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She said: "We've been given the impression that this was a complete basket case and I wonder why people would chosen to invest in a company with that kind of a profile.
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"It needs an investigation from the Stock Exchange," she said.
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The circumstances surrounding the sale of the construction company to businessman Denis O'Brien in March 2012 have raised a storm of controversy in the Dáil.
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