Former top senior civil servant, Pádraig Ó hUigínn stands to make over £3 million if the sale of ESAT Telecom goes ahead at the price analysts expect. Mr Ó hUigínn, the former secretary at the Department of the Taoiseach, is a non-executive director of the telecommunications group. He has nearly 100,000 shares and share options in ESAT, which is currently the subject of a takeover bid.
Analysts expect the Scandinavian telecommunications group Newtel to increase its offer to about $43 per share. ESAT chief executive Denis O'Brien stands to make over £160 million from the deal if it goes ahead. Directors, Mark Roden and Paul Callaghan's stakes would be worth over £6 million each. Consultant Leslie Buckley would have a stake worth £5.3 million. An Post stands to make a profit of £27 million on its recent investment in ESAT.
If the deal goes ahead at this price, it would also make Barry Maloney's 2% stake in ESAT Digifone worth about £28 million. The 1% in Digifone, held by Dermot Desmond's IIU, would be worth about £14 million. If IIU sold this stake, it would bring its total take from ESAT Digifone to over £100 million.
