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February 3, 1997updated 05 Sep 2016 1:09pm

TELECOM EIREANN FORMALLY LAUNCHES SWEDISH-DUTCH ALLIANCE

By CBR Staff Writer

State-owned Irish phone company Telecom Eireann formally launched its strategic alliance with the Dutch and Swedish phone companies, Koninklijke PTT Nederland NV and Telia AB last week. The aim is continued and accelerated reductions in prices, better quality service and more advanced and innovative products and services. Ireland announced the sale of a stake in Telecom Eireann to the Swedish-Dutch team in June for a sum expected to exceed $800m. The two would initially buy 20% with an option to buy a further 15% over the following three years, and they would pay additional amounts according to a profit-share formula, which was expected to take the total amount they would pay to above $800m.

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